US$2B parent guarantee still leaves Exxon in breach of Liza 1 Permit
Upon examining the provisions of the Liza Phase One Permit, High Court Judge, Justice Sandil Kissoon has ruled that there is an unambiguous requirement for Exxon’s affiliate, Esso Exploration and Production Guyana Limited (EEPGL) to furnish authorities with an unlimited liability Parent Company Guarantee Agreement and/or an unlimited liability Affiliate Company Guarantee. He has also ordered that this order be complied with by June 10 or the permit would be suspended.