Friday, July 1, 2022

GAICO Construction to plug over GY$5B into dry dock laydown & storage yard to support oil sector

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Gaico Construction, one of the leading local firms servicing the oil and gas sector, is already positioning itself to take advantage of the revenue-making opportunities to flow from the US$900M gas-to-energy project. By 2023, the company is poised to have a wharf, dry dock laydown, and storage yard located at the Nismes Foreshore, West Bank Demerara.

In its project summary that was provided to the Environmental Protection Agency (EPA), it was noted that the site is located approximately 3 km from the Demerara Harbour Bridge and consists of four acres of land with full access to the Demerara River. Over the last eight years, the site was used as a wharf facility to moor company vessels as well as discharging and storing equipment and construction materials. Drydocking and maintenance work is also being done currently for company vessels.

With respect to the proposed project, Gaico noted that it will have two phases. The first which is envisioned to be completed by April 2022 will see the construction of the dry dock, a reinforced concrete wharf, and a laydown yard which will be upgraded to handle heavier loads using geotextile fabric along with white sand, loam and first-grade crusher run.

The second phase of the project will see the construction of finger Piers with a completion deadline set for February 2022.

Gaico was keen to note that its project will no doubt complement all the other proposed development for the West Bank Demerara area inclusive of the planned gas-to-energy pipeline which will pass through Crane and land at Wales.

Gaico further noted that the proposed project will greatly improve the docking facilities for international ships on the West Bank Demerara area since there is currently no proper wharf facility available for the mooring and unmooring of international vessels. It said this facility will create new opportunities for international transport of materials and goods while generating much needed employment opportunities for laid off workers of the depressed Wales area since the closure of the sugar estate. In this regard, Gaico said the project is poised to create employment for over 150 persons during construction and 100 full-time jobs during operation. In addition, contractors and suppliers will also have an opportunity to develop operations on vacant lands in close proximity to offer related auxiliary services.

The investment portfolio of this project is in excess of US$25M (GYD$ 5,234,170,000.)

More than five years after joining the ranks of service providers for ExxonMobil which is leading development and exploration operations in the Stabroek Block offshore Guyana, Gaico Construction Inc. has matured into one of the company’s key Guyanese partners in the sector.

The 100 percent Guyanese-owned company with over 25 years of experience in Guyana is the only local company offering oil spill response services in partnership with a Finnish Company—the Corena Group—whose parent company manufactures oil spill response equipment.

Gaico’s prominence has also allowed it to seal a partnership with Guyana Shorebase Inc. to further develop waste management capacity and boost the training and hiring of more locals to service the oil and gas industry.

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