President Dr. Irfaan Ali has revealed that a comprehensive feasibility study for the Berbice Deepwater Port is currently underway. Led by global engineering giant Bechtel, the project has full support of the government and key energy stakeholders.
Addressing the Shipping Association of Guyana’s networking and business mixer on Tuesday at the Marriott hotel, Ali said the study is jointly financed by the Guyana Government and Hess Corporation, one of the major players in the country’s offshore oil sector. The study is expected to set the blueprint for one of the country’s key infrastructural undertakings.
“We’re now working with Bechtel to have the study completed and we’ve already committed to sharing the expense with Hess Corporation to have the full design of that facility,” the President said.
He said along with increasing shipping capacity and reducing freight costs, the deepwater port will position Guyana as a major trade and logistics hub, connecting South America and the Caribbean.
The project also includes plans for integrated rail or road infrastructure, pending final assessments on economic viability and return on investment.
President Ali highlighted the mandatory requirement for local ownership and participation as especially notable. “We’ve made it very clear that our local operators must have an important stake in the project, in its totality,” he said.
According to the President, Guyanese businesses are already mobilizing financing to take advantage of the opportunity.
Earlier this month, Bechtel executives met with the President, who stressed the need to expedite the project for the growth of Guyana’s oil and gas sector. The project is now focused on technical assessments and design to further port development.
Initial talks between Bechtel and the Guyanese government date back to 2020, when the company’s executives met with the President and members of his Cabinet to explore opportunities for major infrastructure development.
