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The Guyana Revenue Authority (GRA) has been fighting tooth and nail to understand how two Stabroek Block partners charged Guyana some US$28.8M in expenses they incurred before signing onto a Production Sharing Agreement with ExxonMobil’s affiliate, Esso Exploration and Production Guyana Limited (EEPGL).
A key report by the Guyana Revenue Authority (GRA) has revealed the extent to which technical officers are going to protect the interest of the State in the audit of US$1.6B incurred by ExxonMobil and partners in the Stabroek Block from 1999 to 2017.
Vice President, Dr. Bharrat Jagdeo said yesterday that citizens are justified in being concerned about the length of time it is taking authorities to complete the audit of US$1.6B in expenses racked up by ExxonMobil’s subsidiary, Esso Exploration and Production Guyana Limited (EEPGL).
It is now more than three years since a British firm, IHS Markit, is yet to complete an audit of US$1.6B in expenses for the oil-rich Stabroek Block. Those costs were incurred during the period 1999 to 2017 by ExxonMobil Corporation’s subsidiary, Esso Exploration and Production Guyana Limited (EEPGL).