— as approvals pave way for year-end construction

CONSTRUCTION of the West Demerara Shore Base (WDSB) at Versailles is slated to commence later in the year, according to the investor company, Tristar Incorporated. In a press statement on Friday, the entity said that all regulatory approvals have already been given, and that the project was on course for a 2023 completion. “The WDSB will be built on a 70-acre site on the West Bank of the Demerara River. When completed, the project will be a dedicated oil and gas Shore base with six-berths,” the statement indicated.
The WDSB is the brainchild of Guyanese businessman, Krishna Persaud – founder and sole shareholder of Tristar Inc. After a successful stint as a stock market investor and real estate developer in the United States, Persaud has returned to Guyana with an aim of providing opportunities for Guyanese living on the West Bank of Demerara, where he was raised.
“Having taken two companies public on the NYSE and NASDAQ stock exchanges, he is now focussed on bringing the WDSB to life,” the statement posited.
It emphasised, too, that, once operational, the project will bring a much-needed economic boost to several West Demerara communities that suffered “dislocation” due to the closure of the Wales Sugar Estate in 2016. “By creating economic opportunity, the WDSB has the potential to resuscitate these communities,” the company said.

EMPLOYMENT

It noted, too, that in addition to creating hundreds of direct employment, the WDSB will also utilise a supply chain of Guyanese suppliers and Guyanese sub-contractors, thereby increasing the number of employment that the project will create. “This is in keeping with Tristar’s stated commitment to the people of Guyana. The WDSB will also mean more competition in the shore base services landscape which will lead to lower prices for companies engaged in offshore exploration and development activities, this ultimately redounds to the benefit of the Guyanese economy,” Tristar Inc noted. Additionally, it said that the Versailles area is one that is not congested with traffic, houses and businesses. “Being located up the Demerara River means that the facility will not be subject to coastal wave action. Its location is also just opposite existing development: Guyana Shore Base Inc. (GYSBI), together with the WDSB, could create a sustainable economic cluster,” the company said. Tristar Inc. also expressed its commitment to adhering to the Local Content Policy and all its accompanying legislation. “To this end, Tristar has already engaged Guyanese contractors and is in discussions with other Guyanese contractors with the view of maximising local content in the development and operational phases,” the company said. Further, Persaud and his team said that they have also been in discussion with major international operators in the oil and gas industry who may want to utilise the facility to support their deep-water exploration and development operations.

INTERNATIONAL CONFERENCE

Added to that, Tristar Incorporated will be attending the Offshore Technology Conference (OTC) in Houston, Texas, USA, from August 16-19, 2021. It is one of the largest conferences on the oil and gas industry’s calendar. Further, in light of its over nine billion barrels of oil equivalent in discoveries in the last six years, Guyana is poised to take centre stage at this year’s OTC. “Tristar’s presence at the OTC is indicative of its commitment to provide a world-class shore base facility to support the expansion of the Guyanese oil industry,” Tristar Incorporated said.
The delegation representing Guyana is headed by Persaud, and includes a “blue chip” team of international experts working on the project.
Nonetheless, once the WDSB is up and running, the investor company said that it will be operating in accordance with international standards “including ISO 45001, ISO 9001 and ISO 14001, as well as ISPS port security standards”.
Added to that, “the shore base will be operated to the highest international Health, Safety, Security and Environmental (HSSE) standards. Moreover, the company assured that ‘as a dedicated oil and gas facility, the WDSB will allow for optimal control of logistics and management of HSSE’”.