Guyana: Gov’t still to hire firm to audit Exxon’s pre-contract costs

The procurement process for a firm to audit the more than US$960 million ExxonMobil said it racked up in pre-contract costs here is nearly completed, Director of the Department of Energy Dr Mark Bynoe says.

“The procurement process has not been completed so I cannot comment on same. I would be happy to revert… with requisite responses once that is completed, which we expect to be very shortly,” said Bynoe last week, in a response to questions from Stabroek News.

Bynoe had last year said that this country lacks the capacity to audit pre-contract costs for oil recovery and had revealed that an international firm will be hired to aid both the Guyana Revenue Authority (GRA) and the State audit office, to discharge their obligations.

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