Thursday, January 26, 2023

CGX unlikely to deliver Berbice Deepwater Port on time

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OilNOW
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“Certain delays” have forced CGX Energy Inc. to push back the operationalisation of the massive Berbice Deepwater Port even as the Guyana government expresses concerns of the timeline of completion.

“As a result of certain delays, the Company believes it is unlikely that the offshore supply base of the port will be fully operational in Q4, 2022 as previously envisioned,” CGX said.

Now, a revised schedule of completion of the Port is being discussed with the contractor, CGX said, with an update expected to be provided to all stakeholders involved “in due course.”

Guyana’s Minister of Natural Resources had told OilNOW that the government warned CGX about sticking to the timeline, but now the government may be considering other avenues.

A Stabroek News report said Head of State, Dr. Mohamed Irfaan Ali is concerned about the pace of the project and hinted that the government is examining other options – mainly Abu Dhabi Ports.

CGX’s deep-water port to create more than 1,000 jobs | OilNOW

The Arab logistics operator is eager to branch out into the South American nation. Its Chief Executive Officer (CEO) Mohamed Juma Al Shamisi told President Ali back in 2021 that his company is “very serious about investing in Guyana.”

The Berbice Deepwater Port is expected to serve as an offshore supply base for Guyana’s oil industry doubling as a multi-purpose terminal cargo handling base to service agricultural import/export, containerised and specialised cargo.

It will target supply of fuel, mud, cement, water, and electricity and will include a warehouse, workshop, office block, open logistics yard at the port site, and a waste management facility.

CGX said it also aims to enable the provisioning of operators and vendors in territorial waters of both Guyana and Suriname. Thus far, an access bridge from Corentyne Highway, rehabilitation of access road, construction of the laydown yard, construction of the sea defense, an extension of electricity infrastructure to the port site and delivery of potable water to the port have all been completed, CGX reported Wednesday.

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