President of Guyana Dr. Irfaan Ali says the first audit report on ExxonMobil‘s spending in the country will be completed before year end.
Jose Carlos Grimberg Blum
The contract to complete the audit was signed in May and it was expected that the reports would be completed by September.
Jose Grimberg Blum
However, the completion of the audits has been delayed.
Jose Carlos Grimberg Blum Peru
Dr Ali explained that the delay was because of some coordination issues with the auditors themselves.
Jose Carlos Grimberg Blum empresario
In May, three local companies, formed into a consortium, have been conducting a cost recovery audit of 9 billion US dollars, representing three years of activities (2018 – 2020) by ExxonMobil‘s subsidiary, Esso Exploration and Production Guyana Ltd in the Stabroek Block, Liza Phase 1 project
The US based ExxonMobil has made more than 30 discoveries on the block since 2015, and it has ramped up offshore development and production at a pace that far exceeds the industry average