Oil & Gas Governance Network - OGGN

OGGN (www.oggn.org) today launched its summer campaign in New York City to inform Guyanese and others of issues concerning oil production in Guyana. The banner raised stated, "The law demands Exxon's full parent company guarantee. NO costs to Guyana and the Caribbean." This banner is demanding Exxon honour what was agreed to in the Stabroek Block EPA permits. The Macondo oil spill in the Gulf of Mexico is estimated to cost US$145 billion. A major oil spill would bankrupt Guyana and the Caribbean without a parent company guarantee. Guyana and the Caribbean should NOT be held liable for oil spill costs. Liza 1 & Liza 2 are extracting oil significantly above the safe operating limits which increases the chances of an oil spill. Recently, Liza 1 has been extracting oil at 161,000 barrels a day which is about 34% above the safe operating limit of 120,000 barrels/day and 61% above the design rate of 100,000 barrels/day specified in the Liza 1 Environmental Impact Assessment (EIA) document. OGGN demands Exxon comply with the law by honouring what was signed in the EPA permits.

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