Sunday, August 14, 2022

Exxon says being ‘essential partner’ to Guyana is its number one priority

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The transformation of Guyana through revenues being generated from massive oil and gas production operations taking place off the country’s coast is underway. ExxonMobil, operator at the largest offshore block, along with co-venturers Hess and CNOOC, says being an ‘essential partner’ and bringing benefits to the people of Guyana is a top priority.

This was highlighted last week in Georgetown during a ceremony to formalise the terms of a landmark Gas-to-Energy project that is expected to bring significant benefits to the nation of just over 750,000 people.

Speaking at the event, President of ExxonMobil Upstream Company, Liam Mallon, said Exxon can produce oil and gas as a responsible company and at the same time lower emissions and meet the goals of the Paris Agreement.

“It is that balance and that dual focus that I think is distinguishing and I think critical,” Mallon said. He made it clear that in meeting that goal the company has several strategic priorities, at the top of which is being an ‘essential partner’.

“It is clearly stated in our mission statement, and we achieve being an essential partner when we achieve win-win solutions for our customers, our partners that are here today, our broader stakeholders, and of course most importantly for the communities in which we operate,” he said.

The US oil major made the first ever commercial discovery in Guyana in 2015 and has gone on to make over 30 discoveries since that time, amounting to nearly 11 billion oil equivalent barrels.

In the seven years since the Liza 1 discovery, Exxon has embarked on broad-based initiatives aimed at creating sustainable development in Guyana.

“Gas-to-energy is one example, the Greater Guyana Initiative that you’ve heard about is another one, and I think you’re all well aware of the partnerships that we’ve had with the University of Guyana, and of course very excited on something that we agreed with His Excellency [President Irfaan Ali] not that long ago, on progressing technical training institutes,” Mallon pointed out.

The Greater Guyana Initiative is a 10-year, US$100 million (20 billion Guyana dollars) programme geared towards capacity building across diverse sectors, including non-oil.

Exxon also recently commenced its procurement process for a contractor to construct the Guyana Technical Training Institute – the nation’s first state-of-the-art oil and gas training facility.

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