Wednesday, September 27, 2023

US$65M expended with more than 300 local suppliers during 2018 from Exxon operations in Guyana

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ExxonMobil said in an update on Monday that throughout its activities in Guyana, the company continues to emphasize and promote direct benefits to local business.

“More than 50 percent of the Guyana affiliate’s employees, contractors and subcontractors are Guyanese, a number that will continue to grow as operations progress,” the company stated.

ExxonMobil, its partners and its contractors spent about US$65 million with more than 300 local suppliers during the first three quarters of 2018, the company said.

The Centre for Local Business Development (CLBD), established by ExxonMobil in 2017 to promote the establishment and growth of small- and medium-sized local businesses, continues to enable access to training and capacity-building. More than 1300 local businesses have registered with the centre.

In December CLBD with support from ExxonMobil Guyana facilitated its first Supplier Development Forum for the Liza Phase 1 project which saw participation from more than 1400 local businesses over a two-day period.

ExxonMobil affiliate Esso Exploration and Production Guyana Limited is operator and holds 45 percent interest in the Stabroek Block. Hess Guyana Exploration Ltd. holds 30 percent interest and CNOOC Nexen Petroleum Guyana Limited holds 25 percent interest.

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