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Guyana blindly paying oil companies' interest on loans without Govt.'s approval - contract

The 2016 Production Sharing Agreement (PSA) that the Guyana government inked with oil major, ExxonMobil allows the company to pay back accumulated interest on loans it took to develop the resources in the Stabroek Block, without the prior approval of the Minister in charge. ....

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PRDS chasing Red Herrings in the Mannar Sedimentary Basin

Search for offshore oil BY Trevor Jayatillake The Petroleum Resources Development Secretariat (PRDS) hopes to go for joint study blocks in its next round of bidding in the search of its Hydrocarbon El Dorado. It is also putting up the contentious M2 offshore block in the Mannar Basin for investors to test its commercial potential. […] ....

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