Guyana: ‘Shady’ provisions cloud ExxonMobil contract

Guyana’s contract with oil major ExxonMobil is a good one but some of the provisions are “shady” and the signing bonus and royalty were too low, says Dr Tulsi Dyal Singh, a Midland, Texas-based small oil and gas investor who has been involved in various aspects of the industry.

Singh, on Friday, hosted a talk called ‘Get Ready Guyana: You Are An Oil Man’ at Moray House. The talk was based on an article he wrote for the Guyana Annual 2019. Singh, who has been a resident of Midland – which sits over the oil-rich Permian Basin – for over 40 years, has had first-hand experiences of the ‘booms and busts’ of the oil industry.


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