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Guyana: Exxon’s Payara project approved

ExxonMobil has secured approval for its Payara project in the Stabroek Block offshore Guyana and an agreement, which would also cater for stiff fines for flaring violations and a commitment that reservoir water be treated to international standards before dumping, should be signed soon, Minister of Natural Resources Vickram Bharrat has said.

“We are coming to the position where a production agreement is being drawn up and based on negotiations and consultations with the Attorney General’s Chambers,” Bharrat told Stabroek News when contacted, while noting that a “workable agreement” should be signed within days.

The Minister explained that details on applicable fines and new flaring provisions will be made public. “We will impose fines for flaring. Yes, we have an agreement to treat to international standards,” he added.

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