GRA’s statement on oil audit

                                                                                    Cost Oil Audit – 1999 to 2017

The Guyana Revenue Authority (GRA) has noted the several statements in the press related to the above Cost Oil Audit, the most recent attributed to the CEO of Exxon Mobil Guyana Ltd (EMGL).

The Authority wishes to categorically re-iterate that it stands by its advice to the Ministry of Natural Resources and the Government of Guyana that the Cost Bank Adjustment of US$214.4M as reported in the “Audit Report Recommendation Final” by IHS Markit is the accepted final figure.

Further the Authority unequivocally states that its correspondence to IHS Markit seeking clarity to the said “Audit Report Recommendation Final” and copied to EMGL should in “no way or form” be construed as a change in the Authority’s position that the Cost Bank Adjustment of US$214.4M be adjusted, nor to re-open the process as intimated by the CEO of EMGL 

Godfrey Statia

Commissioner-General