Stuart Young Accuses Government of Misleading Public on ExxonMobil Contract

August 13, 2025 – Former Prime Minister Stuart Young has publicly challenged the current administration’s claims of full credit for the recent Production Sharing Contract (PSC) with ExxonMobil for TTUD-1. Young asserts that the deal was initiated by the previous People’s National Movement government, which engaged ExxonMobil and commenced negotiations for the ultra-deepwater blocks.

According to Young, the PNM administration had the opportunity to approve the PSC terms before the April 28th election, but chose not to rush the process. He criticised the current government, stating they have done “very little to nothing to complete this deal” and that their claims amount to a “blatant misrepresentation to the population.” In his comments, Young also cautioned against overly optimistic projections about the deal’s immediate benefits.