The US$300 million Vreed-en-Hoop Shorebase Inc. (VEHSI) project was completed in December. Guyana’s President, Irfaan Ali, visited the facility on Wednesday afternoon, where he was informed about the project’s development.
Phases one, two and three, which currently occupy 44 acres of land, were completed in June, August and December of this year, according to an update posted on the President’s Facebook page.
The shore base is expected to support petroleum operations, including offshore subsea equipment installation for capital projects, storage and preservation of emergency response equipment, including capping stacks, and the fabrication of important equipment such as pipeline end termination structures (PLETS) and flowline end termination structures (FLETS) in Guyana.
During the presentation, President Ali was told that the facility could be expanded to house other important infrastructure, including a fuel terminal, container port and dry dock.
VEHSI is a partnership between the 100% Guyanese-owned NRG Holdings and the Belgian Jan De Nul. ExxonMobil awarded the contract to the group in 2022 after a competitive bidding process, to secure support for the Yellowtail project slated to begin production in 2025. The ONE GUYANA floating production, storage and offloading (FPSO) vessel is due to arrive in Guyana in the second quarter. The project will have the capacity to produce 250,000 barrels of oil per day (b/d), taking total capacity in the Stabroek Block to about 900,000 b/d.
