–President Ali says newly commissioned Vreed-en-Hoop Shore Base Inc an asset to create logistics, transport hub

PRESIDENT, Dr Irfaan Ali has affirmed that Guyana’s standing as a leader in the region’s marine industry and sector is being further strengthened by the US$260 million Vreed-en-Hoop Shore Base Inc. (VEHSI). Speaking at the commissioning ceremony of VEHSI on Saturday, the President highlighted the significant transformation of Region Three (Essequibo Islands-West Demerara) and shared his vision for the promising future of Guyana. In his remarks, he emphasised that development must keep pace with the world’s rapid evolution and should not be delayed.

In that regard, he said VESHI is “one additional asset that allows us to build one of the best marine industries and marine sector in the region. This is that one additional asset that positions us to build a transport, logistics hub and a link that is key and critical and brings new opportunity with it.”

Dr Ali also stated that Guyana’s transformation is not solely about oil and gas, but it is about leveraging the revenue from that sector to build a “world-class, diversified and sustainable” economy.

With development being the linchpin of progress and the gateway to opportunities, the President reflected on the efforts by the former administration to block private sector investments. The Head of State recalled that between 2015 and 2020, investments of more than US$150 million were left idle, waiting in a file for approval.

But within 30 days, under the Ali-led administration, those investments were unlocked.

On the Demerara River alone, in the last four years, it has seen investments of more than USD $700 million, he said. Adding to this, the President spoke on why it is important to not lag when it comes to advancing development.

“There is a concept in business called early movers, and you have the early-movers advantage. If we remain static in our development and the way in which we structure our development, we will be late movers, and we’ll pay the price,” the Head of State said. He called for the focus to be on creating economic sustainability, job creation and stimulating wealth. In this regard, the President noted that the commissioning of VESHI not only celebrates the completion of the physical infrastructure, but also the jobs that were created for Guyanese.

“We’re celebrating the hard work of the more than 400 men and women who worked on the site during construction. We’re celebrating the more than 250 persons in the initial phase who will work here permanently…250 families that will find sustainable jobs here.

“We’re celebrating the policies and the initiatives that would have enabled us as a country to bring back more than 80 per cent of the semi-technical and low-level technical jobs that were held outside of our country here in Guyana,” the Head of State said.

The President stated that these positive results, which are benefitting everyone, stem from the government’s policies, their bold approach, clear vision, and the confidence of the private sector.
Phase One of the Port of Vreed-en-Hoop, a state-of-the-art shore base facility at Plantation Best, West Coast Demerara, is a transformative project that will revolutionise Guyana’s oil and gas sector and provide critical infrastructure for the country’s expanding offshore energy industry.

This is the first shore base of its kind in Region Three and the precursor to what is expected to become the larger Port of Vreed-en-Hoop vision that seeks to improve Guyana’s long-term maritime offerings.

The project was developed by VEHSI, a joint venture between NRG Holdings Inc., a 100% Guyanese-owned consortium, and Jan De Nul, a globally renowned maritime infrastructure company, and is one of the largest private-sector investments in Guyana’s history, with an estimated cost of over US$260 million so far.

The opening of the shore base is expected to bring significant economic and employment opportunities to Region Three and already during its construction phase, the project has created hundreds of jobs.

In addition, local businesses and the immediate community have already seen the tangible benefits. During construction, over US$60 million was invested in the deepening of the Demerara River channel; the channel has been widened from approximately 50 metres to 100 metres; it has also been extended from 18KM to over 28KM in length from the mouth of the river to provide access to larger vessels with deeper draught. The community of Plantation Best has seen the addition of new roads and bridges, as well as the improvement of existing infrastructure, in the process, raising the profile of the community and increasing property values.

The over 50 acres will serve as a world-class Subsea Umbilicals, Flowlines, and Riser (SURF) shore base for ExxonMobil Guyana Limited (EMGL).

CHANGE YOUR PHILOSOPHY
Meanwhile, President Ali highlighted his government’s investment in human capital and noted that this is essential if they are to achieve the three million people coming through the economy.
He emphasised that the tourism sector needs to be built and a change in philosophy is required. “I listened to some of the comments in Parliament. I don’t call it a debate, because some of it lacks anything close to the debate…comments that seek to reduce the value of persons who are coming up in the hospitality and tourism sector…We have to understand what are the requirements of this country, moving forward.”

These statements by the President serve as a strong rejection of opposition Member of Parliament (MP) Juretha Fernandes’ remarks about workers in the hospitality industry and the overall tourism sector during day one of the budget debate in the National Assembly.

Fernandes referred to these workers as “washing hotel sheets or mopping hotel floors.”

DEVELOPMENT
Meanwhile, Minister of Natural Resources Vickram Bharrat, in his remarks, addressed the significant development in Guyana’s oil and gas sector and spoke about the responsible and sustainable practices employed.

He also commended the leadership of President Ali and the partnerships with ExxonMobil and local investors. Even with oil developments, he said that locals are being prioritised in this transformation, especially owing to the Local Content Act (LCA).

He said that VEHSI serves as manifestation of the President’s commitment to make Guyana an oil and gas hub within the region, that could service other oil-producing countries nearby.
Additionally, President of ExxonMobil Guyana, Alistair Routledge, spoke extensively on the “visionary” project and how it will drive transformation in Guyana. Reflecting on the strong partnerships that underpin the project, he said this can be traced back to 2015 when ExxonMobil Guyana and its co-venturers, Hess and CNOOC saw the great opportunities that Guyana possessed.

He noted, “Our industry is one that invests over decades. It’s not a short-term investment, it’s a long-term commitment. It requires that vision. It requires that long-term commitment.”
Alistair said that the oil major looks forward to continuing its support for further investments as they fulfil their vision.

“We’ve set the cornerstone for development, not just of local content for oil and gas, but for the development of a larger part of the economy that can build on this foundation.”