Opposition Leader, Bharrat Jagdeo acknowledged today that the PPP regime awarded the Canjie and Kaieteur blocks to firms which can be described as “inexperienced.” He stressed however that this was done with the expectation that those firms would lure world-class partners with the experience in deepwater exploration.
At a press conference held at his Church Street Office, Jagdeo was asked to say if he was concerned that four firms—Kaieteur block operators; Ratio Energy, Ratio Guyana Limited; and Canjie Block operators: Mid-Atlantic Oil and Gas Inc., and JHI Associates Inc.—were given the blocks when they had no wherewithal or track record in the petroleum industry.
The PPP General Secretary said that he has examined all the statements made on the issue thus far and that former President, Donald Ramotar, who signed away the blocks, made it very clear that negotiations were in play well before the announcement of oil was made on May 20, 2015.
The Opposition Leader said that one needs to carefully consider the mindset of that era He noted that there was not much interest in the Guyana basin. He said that when there are few blocks to award and lots of interest, an auction is the best way to go. He noted however that when the situation is the opposite, one has to be more generous.
In addition to this, the Opposition Leader said that the PPP is not opposed to an investigation but stressed that it should be done by an international firm. Jagdeo said he is convinced that there was no wrongdoing but “whatever the outcome we will deal with it. If they find wrongdoings then we will have to live with it,” Jagdeo concluded on the matter.