US$2B parent guarantee only to cover oil spill damage to Guyana – Exxon Guyana

The US$2B parent guarantee Guyana is poised to receive from ExxonMobil Corporation for the Stabroek Block only covers expenses associated with an oil spill within these borders. The determination of that sum did not consider ensuing liabilities of potential impacts on 12 Caribbean territories. Though that worst-case scenario is outlined in the Environmental Impact Assessment (EIA) for the Liza Phase One Project, Alistair Routledge President of ExxonMobil affiliate, Esso Exploration and Production Guyana Limited (EEPGL) said it is not considered as a “credible” case, especially when one considers the extensive mitigative and preventative measures in place for the Stabroek Block.

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