• New collaboration established between ExxonMobil Foundation, Conservation International and University of Guyana
• Program to advance Guyana’s sustainable economy through investments in education, research, sustainable management and conservation of the country’s vast ecosystems
• Part of ExxonMobil’s long-term investment in supporting local priorities in Guyana

Guyana’s two percent royalty on earnings from ExxonMobil’s oil sales is low compared to global standards, raising concerns about whether there was transparency about the negotiating system,  Dr. Jan Mangal, Petroleum Advisor to President David Granger said Wednesday.

“What we can do is look at what are the international norms. Royalty, when you look around, is more between ten and twenty percent, not two percent,” Dr. Mangal told a discussion  on the Government of Guyana’s Vision for the Oil and Gas Sector held at the University of Guyana’s Education Lecture Theatre.

The settlement of the Guyana-Suriname maritime boundary dispute several years ago was an incentive for ExxonMobil to explore and eventually find huge oil fields offshore this country, former Head of the Frontiers Division of the Ministry of Foreign Affairs, Keith George said.