According to the Production Sharing Agreement (PSA) Guyana signed onto with ExxonMobil’s subsidiary, Esso Exploration and Production Guyana Limited (EEPGL) and its two other partners, Hess Corporation and CNOOC/NEXEN, the operators are allowed to recover donations as well as contributions it would make to local organizations.
While those costs would only be recoverable if approval is granted by the subject Minister, Exxon has disclosed to the Guyana Standard that it has no intention of going after those sums. Specifically noting this was Public and Government Affairs Advisor for ExxonMobil, Janelle Persaud. The official said, “ExxonMobil Guyana considers these strategic investments in the community and does not intend to recover such costs.”
In November 2017, last, ExxonMobil had contributed over $10M to aid the disaster relief efforts of the Civil Defence Commission (CDC).
Last year, it spent $184M on several community projects. Also in 2018, the ExxonMobil Foundation said that it would contribute US$10 million to a collaboration between Conservation International and the University of Guyana to train Guyanese for sustainable job opportunities and to expand community-supported conservation.
This news agency understands that the investment is also intended to support the nation’s Green State Development Plan which is aims, among other things, to diversify Guyana’s economy and balance economic growth with the sustainable management and conservation of the country’s ecosystems. The ExxonMobil Foundation will provide the investment over a five year period.