-President Ali says move signals commitment to local content development
-applauds companies for investing over $25B along coastline in the last two years

LAUDED as a milestone in the development of local content in Guyana, the Guyana Shore Base Inc. (GYSBI) on Friday commissioned their US$25 million heavy-lift berths, which represents a significant expansion of its operations.

GYSBI has been mainly providing services to ExxonMobil’s local subsidiary, Esso Exploration and Production Guyana Limited (EEPGL). The two new berths will increase the company’s capacity to moor more vessels, and the overall services it offers.

During the commissioning ceremony which was held at GYSBI’s Houston, East Bank Demerara facility, a new crane dubbed the “Commander-in-Chief” was also commissioned.

In his remarks, President, Dr Irfaan Ali, commended GYSBI on the expansion of the facility and added that this investment is what local content is about.

He spoke extensively about the Local Content Policy and his government’s determination to “ensure that our country and our people derive increased benefits from the oil and gas sector”.

“Local content is a means through which we’re ensuring greater value retention and value-added from the oil and gas sector,” he said.

According to President Ali, the Local Content Policy is playing its part in promoting economic diversification in Guyana and catalysing the development of new services and industries, as is evidenced by GYSBI’s presence and continued expansion.

“Just look around you and see the number and types of businesses that have emerged since oil production commenced. Drive around, be honest, be open, and be critical. The business landscape of this country is being transformed. The level of sophistication in the local economy is improving and expanding.,” he added.

The head of state noted that over the last two and a half years, several companies have invested more than $25 billion directly along Guyana’s coastline for several operations to service the oil and gas industry.

Meanwhile, Executive Director of GYSBI, Robin Muneshwer told the gathering that the addition of the new berths is the culmination of a rapid expansion programme by the company that started operations just five years ago

While he mentioned that the company started with eight acres of laydown yard, two berths and one warehouse, it has since expanded to 155 acres, eight warehouses and now has four berths.

“This exponential growth has been largely fuelled by the unparalleled success Exxon has had in its exploration activities and the ability of GYSBI to fulfil its current needs,” Muneshwer said.

According to the Executive Director, the Guyana Shore Base Inc has brought millions of dollars in revenue to the country and has energized the East Bank corridor so much that it has become the hub of the local oil and gas industry,
Muneshwer stated that hundreds of jobs have been created through direct and indirect employment as the company now has some 705 employees, of which 95 per cent are locals.

As a result, he added that long before a Local Content Policy was implemented, his company has been the poster child for local content in Guyana. The hundreds of jobs that have been created, he added, would not be possible without the shore base facility.

“The story of GYSBI is that of a local company, Muneshwers taking a tremendous entrepreneurial risk years ago in the pre-oil era, teaming up with foreign companies who brought their intellectual and financial resources to create a uniquely Guyanese story. We are the shining beacon of the industry,” Muneshwer said.

President of EEPGL, Alistair Routledge, shared the same sentiments as he noted that the commissioning of the new berths marks another significant milestone in local content development in Guyana.

Routledge said that over the years, the company has provided services and with the recent expansion of the facility, some services that were being handled in Trinidad and Tobago are now being handled at the GYSBI facility.

He added that the facility has been an integral part of EEPGL’s operations in Guyana.

“This facility is absolutely critical to our operations offshore. It’s a multiservice one-stop shop, from drilling equipment, fuel, materials, chemicals, all critical to our production, operations, drilling operations, waste treatment and storage of spill response equipment. GYSBI is an integral part of our operations.”

According to Routledge, 25 of EEPGL’s 36 vessels came every week to the GYSBI’s port facility between January and November 2022, before the two new berths were added.

In December of that same year with the addition of berths three and four, he indicated that that number went up to over 30 vessels per week. He noted that the main driver behind this was the full operationalisation of the new berths.

With that, he told the gathering that the partnership between GYSBI and ExxonMobil Guyana shows what can be achieved at a significant scale within a short period with collaboration and a common long-term vision.
He noted that the shore base is a great example of the benefits of a strategic approach to local content growth to further foster and develop a resilient and diversified economy for the long term.

As such, he said that it was just last year that EEPGL signed an 11-year extension with GYSBI, which affords the company more opportunities for growth.