Imagine a man WRITE THIS CALYPSO DECADES AGO: CLEAR THE WAY -- GUYANA COMING BACK!!!

But that comeback is not going to happen as fast as most people think.

Here are some numbers associated with the EXXON CONTRACT.

The FIRST MILLION BARRELS OF OIL all goes to EXXON. So even though production begins next month, the GUYANESE GOVERNMENT will not be receiving its 12.5 share of the oil until about MARCH of 2020.

Under the revenue-sharing agreement between ExxonMobil and Guyana, 75% of oil production will initially be allocated to the company and its partners for cost recovery of investments made in oil infrastructure, according to the government.

The remaining 25% will be split on a 50-50 basis with Guyana.

The contract includes a royalty of 2% on gross earnings (off the top on the 120,000 barrels per day), and another 12.5% of the remaining 117600 barrels of the initial oil revenues going to the government. The government will begin to receive higher revenues after ExxonMobil recuperates its initial costs. That period is roughly estimated at about 5 years -- if I remember correctly.

So once EXXON gets up to the 120 BARRELS PER DAY projected -- Guyana will actually be getting about 17,100 BARRELS PER DAY. And I think that (THEY GUYANA) uses about 14,000 barrels of oil per day (roughly).

Ah hope that horse doh break down in THE STRETCH on MARCH 2ND!!!

Replies

Claude Gonzales November 12, 2019 at 7:57pm

But that comeback is not going to happen as fast as most people think.

Here are some numbers associated with the EXXON CONTRACT.

The FIRST MILLION BARRELS OF OIL all goes to EXXON. So even though production begins next month, the GUYANESE GOVERNMENT will not be receiving its 12.5 share of the oil until about MARCH of 2020.

Under the revenue-sharing agreement between ExxonMobil and Guyana, 75% of oil production will initially be allocated to the company and its partners for cost recovery of investments made in oil infrastructure, according to the government.

The remaining 25% will be split on a 50-50 basis with Guyana.

The contract includes a royalty of 2% on gross earnings (off the top on the 120,000 barrels per day), and another 12.5% of the remaining 117600 barrels of the initial oil revenues going to the government. The government will begin to receive higher revenues after ExxonMobil recuperates its initial costs. That period is roughly estimated at about 5 years -- if I remember correctly.

So once EXXON gets up to the 120 BARRELS PER DAY projected -- Guyana will actually be getting about 17,100 BARRELS PER DAY. And I think that (THEY GUYANA) uses about 14,000 barrels of oil per day (roughly).

Ah hope that horse doh break down in THE STRETCH on MARCH 2ND!!!
odw November 12, 2019 at 4:27pm

Time for Pan Musicians to Unionize...and invest.

OWTU buys 'Petrotrin refinery' with US $700m bid Govt sells Pointe-...https://trinidadexpress.com/news/local/owtu-buys-petrotrin-refinery...

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