Tuesday, November 29, 2022

Over US$127 million spent by Exxon, contractors in Guyana during first half of 2022

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For the first half of 2022, ExxonMobil Guyana and its contractors spent over US$127 million (GY$26.5 billion) on Guyanese suppliers

The Stabroek Block operator has also confirmed with OilNOW that since announcing the first commercial discovery in 2015, over US$700 million was spent with Guyanese businesses.

With respect to employment, it said over 4,400 Guyanese workers supported its activities as well as that of its reporting contractors by the end of the first half 2022. Exxon said too that Guyanese represented approximately 64% of the overall workforce supporting its oil and gas operations.

Local content earnings top GY$129 billion, over 350 certificates issued to suppliers | OilNOW

To date, Exxon asserted that more than 1,000 unique Guyanese vendors have benefited from opportunities within its supply chain. The company said this represents continuous progress over the years and is expected to grow as oil and gas operations expand in Guyana thereby creating more opportunities to build capacity.

As Exxon and its contractors continued to focus on the development of employees, Guyanese staff benefitted from training in both virtual and in-person formats in the following areas: Basic & Induction; Health, Safety, Security & the Environment (HSSE); Professional/Technical; Trade and Craft and Administrative Training.

Oil sector exceeds 2022 targets for training, hiring Guyanese – Dr. Pertab | OilNOW

To expand its local content drive even further, Exxon and the Centre for Local Business Development staged a Supplier Forum in November that saw over 3,000 visitors over a two-day period.

Exxon remains the largest oil sector operator offshore Guyana. It holds the majority interest in the Stabroek Block which has more than 33 discoveries, as well as interest in the Kaieteur and Canje blocks.

The company also recently received government approval for its five-year Local Content Master Plan which will see greater transformative developments for Guyanese companies.

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