By Kemol King

GEORGETOWN, April 29 (Reuters) - Guyana's government has

submitted an oil pollution bill to the Parliament proposes to

make responsible parties liable for damages caused by oil

spills, including from vessels, according to a copy of the act

published in the Official Gazette.

The South American country, whose oil production controlled

by an Exxon Mobil ( XOM )-led consortium is expected to surpass

900,000 barrels per day this year, is trying to reinforce

oversight of its nascent energy industry, where all crude and

gas output comes from offshore fields.

Responsible parties shall provide financial assurance to

cover spills, conduct regular inspections and audits, and

address any issues found, according to the measure.

The bill includes penalties for companies that fail to

comply with regulations, including the suspension of licenses to

explore and produce oil for those that do not provide the

financial assurance required.

Under the proposed measure, the country's Oil Spill

Committee would be assigned more formal duties to oversee the

industry and coordinate response to any spills.