EXXONMOBIL on Thursday called out Kaieteur News (KN) for portraying a “false impression” in Friday’s front-page story surrounding the oil giant cost-recovery audits.

“It’s irresponsible to create the false impression that this ongoing audit process has been finalised or that ExxonMobil Guyana has done anything wrong,” the statement said.
The statement underscores the company’s commitment to responding to any audit requests from the government or their appointed technical experts in support of a fair and professional resolution.

It points out that the audit process is functioning as designed, providing an opportunity for the government to review the costs allocated to the cost bank and raise queries on unclear items so they can collaboratively find solutions.

“Sensational headlines aside, the news report illustrates that the audit process is doing exactly what it is designed to do: provide an opportunity for the government to review the costs allocated to the cost bank and raise queries on items that are unclear, so we can work together to resolve them,” Exxon said.

ExxonMobil Guyana highlights that audits are a standard practice for the company, and they regularly undergo audits by both internal and external auditors. They also mention their Stabroek block co-venturers, who share the government’s interest in ensuring all costs are accurately accounted for and documented.

The company reiterates its commitment to adhering to international best practices in its operations.