Of 11 bids submitted to build and operate a modular oil refinery in Guyana, the government is now in possession of a list of five qualifiers, according to a Ministry of Finance 2023 Mid-Year report.
“These contenders are now ranked, and further clarifications have been requested of the short-listed bidders which will fuel additional discussions to move to the best ranked candidate to fulfil the execution of this important project for our domestic economy,” the report states.
The refinery would have the capacity to process 30,000 barrels of oil per day (bpd), and would be established on Crab Island, at the mouth of the Berbice River.
An additional contender, aside from the bids, is the proposal for a 50,000-bpd refinery to be established by the government of the Dominican Republic. It is the subject of a memorandum of understanding (MoU) between the governments of Guyana and the Dominican Republic. The MoU puts forward a 51% stake for the Dominican side. The Guyana government has ruled out being a shareholder.
Vice President Dr. Bharrat Jagdeo had said the government would only greenlight the establishment of one refinery.
