Since oil production commenced in the Stabroek Block in 2019, ExxonMobil Guyana Limited (EMGL) has been pushing the safety limits on each of the Floating Production Storage and Offloading (FPSO) vessels.
The Government of Guyana (GoG) is awaiting a full report from its technical staff on whether the ramped-up production of oil in the Stabroek Block by ExxonMobil Guyana Limited (EMGL) constitutes a breach of the insurance and US$2B oil spill guarantee lodged by the Co-Venturers.
The ramping up of oil production in the Stabroek Block by American oil major, ExxonMobil is not covered by the US$2 billion oil spill guarantee provided by the Co-Venturers.