— as Vreed-en-Hoop shore base project prepares for land development process

The largest dredger to ever arrive in the Demerara River, under the auspices of NRG Holdings, will commence adding material for the creation of an artificial island on which the construction of the new oil and gas terminal will be situated.

NRG Holdings Inc. is a consortium of local entrepreneur’s looking to develop the Vreed-en-Hoop Port Project to support the emerging oil and gas sector. The consortium includes ZRN Investment Inc., Hadi’s World Incorporated and National Hardware Ltd.

The dredger, the M.V Galileo Galilei, owned and operated by the Jan De Nul Group, NRG Holdings’ joint venture partner, docked in Port Georgetown and has been deployed to the project site.

According to the Vreed-en-Hoop Shore Base Inc. (VESHI), in a press release on Tuesday, the vessel’s arrival marks the beginning of the sandkey reclamation phase of the project.

During this phase, VESHI noted that the dredger would clear the existing area and begin adding reclaimed material to create an artificial island on which the construction of the new terminal will be situated.

In the first phase, this project will add more than 44 acres to Guyana’s coastline.

“The project started the first step in June, which entailed the dredging of the access channels in the Demerara River including the deepening/widening of the existing nautical channel, berth pockets, and turning basin,” VESHI stated.

The project managers have hailed this phase a success, and the upgraded channel will be handed over to the maritime administration department in the near future.

The M.V Galileo Galilei is one of the largest trailing suction hopper dredges in Guyana’s waters. It has worked on projects such as Brazil’s recent beach expansion project and other port projects.

A unique feature of this vessel is that it has two separate hoppers on board. This allows the dredged material to be spread evenly over both hoppers, thus optimally controlling the load and the draught.

Vreed-en-Hoop Shore Base Inc. (VESHI) forms part of the Port of Vreed-en-Hoop. Phase one of the project is meant to be the special purpose vehicle to serve as a SURF (Subsea Umbilicals, Flowlines and Riser) Shorebase for Esso Exploration and Production Guyana Limited (EEPGL) projects.

VESHI is currently the largest Guyanese private sector investment in the oil and gas sector and is expected to cost over US$300 Million.

According to the project directors, the support and encouragement given by the Government of Guyana have been reassuring and augurs well for additional investment and the future of Guyana. The project is expected to become operational in 2023.

Vreed-en-Hoop Shorebase Inc. is a joint venture between NRG Holdings Inc. – a 100 per cent Guyanese-owned consortium that is the majority shareholder –and Jan De Nul, a Belgium international maritime infrastructure company.