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FeaturedPosted on January 1, 2010 July 22, 2013 Author ChrisRamCategories Uncategorized1 Comment on Welcome to ChrisRam.net
Every Man, Woman and Child in Guyana Must Become Oil-Minded (Part 36) The 2016 Petroleum Agreement compared – Generosity on a monumental scale
On a positive note, this expenditure is not to be included as Recoverable Contract Costs, meaning that the oil companies will bear the cost. Continue reading Every Man, Woman and Child in Guyana Must Become Oil-Minded (Part 36) The 2016 Petroleum Agreement compared – Generosity on a monumental scale
Posted on February 16, 2018 February 16, 2018 Author ChrisRamCategories The Road to First OilTags Oil and GasLeave a comment on Every Man, Woman and Child in Guyana Must Become Oil-Minded (Part 36) The 2016 Petroleum Agreement compared – Generosity on a monumental scale
Every Man, Woman and Child in Guyana Must Become Oil-Minded (Part 35) The 2016 Petroleum Agreement Compared – Force Majeure and Arbitration
Government inaction now constitutes force majeure!
Today we take up from Article 24 which deals with force majeure, the definition of which is set out in paragraph 2.6. This definition has been amended in the 2016 Trotman Agreement. Without any significance, words like “act of God”, “earthquakes”, “floods”, “tsunamis”, “quarantines” and “piracy” have been inserted, events that would be considered as warranting “force majeure” under any jurisprudence but what is astounding is that “governmental inaction” now constitutes force majeure. I have scoured a range of sources and found no instance in any country or agreement where government inaction constitutes “force majeure”. The source of the amendment is either Trotman or Esso and since it favours Esso one has to assume that the amendment was at Esso’s request.
Paragraph 24.1 of the 1999 began with the words “Any non-performance or delay in performance” has now been qualified with the words “wholly or in part”, meaning that a force majeure in one part of this massive area over which Esso (Exxon) exercises control may arguably be grounds for “force majeure” in the rest of the Contract area which extends to thousands of square miles! Continue reading Every Man, Woman and Child in Guyana Must Become Oil-Minded (Part 35) The 2016 Petroleum Agreement Compared – Force Majeure and Arbitration
Posted on February 9, 2018 February 10, 2018 Author ChrisRamCategories The Road to First OilTags Oil and GasLeave a comment on Every Man, Woman and Child in Guyana Must Become Oil-Minded (Part 35) The 2016 Petroleum Agreement Compared – Force Majeure and Arbitration
Absurdly, the 2016 Agreement retains the section of the 1999 Agreement which requires that if the Contractor does not present a timely proposal to the Minister for abandonment, the Minister may, after giving thirty (30) days’ notice to the Contractor, prepare an abandonment programme and budget for the Contract Area!!! Such a major matter should constitute a fundamental breach but instead, the Minister undertakes this substantial responsibility, apparently at his cost! Continue reading Every Man, Woman and Child in Guyana Must Become Oil-Minded (Part 34) The 2016 Petroleum Agreement Compared – Insurance
Posted on February 2, 2018 February 4, 2018 Author ChrisRamCategories The Road to First OilTags Oil and GasLeave a comment on Every Man, Woman and Child in Guyana Must Become Oil-Minded (Part 34) The 2016 Petroleum Agreement Compared – Insurance
Every Man, Woman and Child in Guyana Must Become Oil-Minded (Part 33) The 2016 Petroleum Agreement Compared – Tough Terms
Article 18 which deals with local content has been subject to a number of modifications, the first of which recognises that the activities will be carried out not by the Contractor but by an Operator appointed by the three companies making up the Contractor. In respect of goods and services, the Article requires the Operator to give preference to Guyanese goods and materials of a quality and quantity, timely delivery and competitive prices. In respect of Guyanese Sub-Contractors, preference is to be given if they are commercially competitive and meet financial and technical requirements.
Article 18.2 requiring the Contractor to establish tender procedures remains unchanged for the acquisition of goods, materials and services which shall ensure that Guyanese suppliers and Sub-Contractors are given adequate opportunity to compete for the supply of goods and services. In this regard, there is a new 18.3 requiring the Contractor to train Guyanese suppliers and Sub­ contractors in the procedures for participating in tenders and competing for contracts to be offered in the Operations.
The old Article 18.3 required the Contractor, within 90 days of the end of the year, to provide the Minister with a report outlining its achievements in utilising Guyanese resources during that calendar year. That has now been replaced in 18.4 with a provision that requires the Contractor and the Minister (sic) to prepare a yearly plan for the utilisation of qualified Guyanese resources for the upcoming year. Continue reading Every Man, Woman and Child in Guyana Must Become Oil-Minded (Part 33) The 2016 Petroleum Agreement Compared – Tough Terms
Posted on January 26, 2018 January 26, 2018 Author ChrisRamCategories The Road to First OilTags Oil and GasLeave a comment on Every Man, Woman and Child in Guyana Must Become Oil-Minded (Part 33) The 2016 Petroleum Agreement Compared – Tough Terms