The local office of ExxonMobil on Wednesday evening issued the following statement on delays regarding Payara, its third development project Guyana:
ExxonMobil Guyana President Alistair Routledge was asked by media today about delays for the approval of its Payara project which is currently under review by a government-appointed panel. Routledge noted Guyana was a top priority in ExxonMobil’s development plans and that Payara was an important project in its Guyana portfolio.
He noted that there are benefits that a steady and strategically phased approach to developing the oil resources can have for Guyana. Some media reports have taken out of context his statements that the funds currently not committed could be invested elsewhere should the Payara project approval not be forthcoming.
Routledge was referring to the impact further delays could have amidst the current weak oil market conditions due to the global pandemic that has tightened available funding for projects worldwide. To further clarify and expand upon his earlier comments, Routledge said:
“We and our industry are facing unprecedented market challenges. We are fully committed to Guyana, have been here for decades despite numerous risks and when other companies left.
“We have and will continue to work closely with the government to develop the country’s resources for the long-term benefit of the people of Guyana. We strive to be transparent in our dialogue and want to work to progress positive development in the best interests of all stakeholders.
“The timely approval of additional proposed projects, including Payara, will ensure that the local workforce and the utilization of local suppliers will continue to grow. ExxonMobil’s development concept for its discoveries in Guyana meets our objective to maximize value for our partners, which includes the people and government of Guyana.
“Key enablers have been the support from government and the people of Guyana and the dedication and hard work by contractors and ExxonMobil employees.
“We look forward to continuing to work together to safely and responsibly develop Guyana’s natural resources.”