First audit report on Exxon’s spending from 2018 to 2020 expected by year end

The first audit report on ExxonMobil’s spending in Guyana will be completed before year end, President Dr. Irfaan Ali said on Friday.

The contract to complete this audit was inked in May and it was expected that the reports would be completed by September. The completion of the audits has been delayed, however.

“The delay was because of some coordination issues with the auditors themselves, which is natural in these circumstances,” President Ali explained on the sidelines of an event.

In May, three local companies, formed into a consortium, have been conducting a cost recovery audit of US$9 billion, representing three years of activities (2018 – 2020) by ExxonMobil’s subsidiary, Esso Exploration and Production Guyana Ltd in the Stabroek Block, Liza Phase 1 project.