Orders are hoped to be placed by the end of May, he explained in a Facebook video on Friday. “Of course, the award will take place after negotiations and evaluation of the offers.”
In 2015, a consortium led by Exxonmobil found a lot of oil off the coast of the 800,000-population state. Guyana is one of the poorest countries in South America. The International Monetary Fund had forecast economic growth of nearly 86 percent for Venezuela’s neighbor before the pandemic. According to estimates, revenues from the oil trade could bring the state about 10 billion euros into the treasury by 2030.
Under the agreement between the government and Exxonmobil, 75 percent of oil revenue would initially go to the company to cover costs and 25 percent to the state. The opposition criticized this at the time in the 2020 election campaign because it would greatly benefit Exxonmobil.
Opposition candidate Ali emerged victorious in the 2020 election in the former British colony. The electorate in Guyana was divided between Afro-Guyanese, descendants of African slaves, and Indo-Guyanese, descendants of Indian workers. Ali is Indo-Guyanese.
(SDA)