![]() It is imperative that all stakeholders – namely shareholders, Guyana and its neighbours –are aware of a worst-case spill and response plan that details the economic, human, and environmental impacts of an oil spill given that Liza 1 & Liza 2 oil projects are operating well above the safety limits as per their EIAs.The events that happened in the past two years have validated our efforts a decade back to drive the harnessing of technology for knowledge and streamlining workflows and processes in order to increase the value of the legal team.Īs a primary party responsible for crisis management during the period of movement controls, the pandemic has given me the opportunity to synergise with various stakeholders and drive business continuity and risk management strategies benefitting from legal expertise. Given the above findings, we support the ExxonMobil shareholders to vote in favour of shareholder resolution #10. We fail to locate where in the Liza 1 EIA document it states producing above design capacity is safe. ![]() ![]() The Liza 1 EIA states nothing related to investment basis. Liza 1 EIA states that 100,000 BOPD is what should be the target rate of oil production, not 50% above that limit. According to the Government of Guyana charts here,, Liza 1 has been producing oil at 150,000 barrels a day for several months now. When we checked the Environmental Impact Assessments published for Liza 1, see here, it states this on page 28, “The FPSO will be designed to receive the full production wellstream from the development wells and will process crude oil at a design rate of 100,000 barrels of oil per day (BOPD), with potential to safely operate at sustained peaks of up to approximately 120,000 BOPD”. Thus, are we to believe that EEPGL (Esso Guyana) pays Guyana for the privilege of emitting CO2 and dangerous pollutants into the atmosphere? Here is what the Ministry of Natural Resources stated on September 30 th, 2020, “Esso Exploration and Production Guyana Limited (EEPGL) will pay the Government for the cost of gas wasted during flaring and will also be subject to fines under the EPA related to emissions from flaring.”ĮxxonMobil’s response to resolution #10 claims that “above design capacity” relates to investment basis and the actual volume that is safe to produce is well above the design capacity. Example, one pays a fine for parking illegally. A fine is paid for breaking the law or regulation. A fee is what one pays for a service or privilege. However, ExxonMobil reasoning as to why shareholders should reject resolution #10 contains a number of questionable statements.ĮxxonMobil claims that by resolution #10 using the word ‘fine’ instead of ‘fee’ for the replacing the gas compressor makes the proposal guilty of mischaracterization. ExxonMobil recommends shareholders vote against resolution #10. Shareholder resolution #10 is concerned with Guyana and seeks additional reporting on worst-case spill and response plans. These resolutions were outlined in its 2023 Proxy statement, a copy can be found here. During this meeting shareholders will vote on a number of resolutions raised. Kaieteur News – ExxonMobil will have its annual shareholder meeting on Wednesday May 31st, 2023. Why ExxonMobil shareholders should vote for resolution #10, worst-case spill and response plans
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