GEORGETOWN, Guyana - The Guyana government says it is encouraged that three local companies will be involved in the construction of the Jaguar Floating, Production, Storage and Offloading (FPSO) vessel.
Natural Resources Minister, Vickram Bharrat, speaking at the ceremony on TuesdayIt said the companies, Industrial Fabrications Inc. (InFab); Guyana Oil and Gas Support Services Inc and ZECO Group of Services, will be providing fabrication services to the project.
Natural Resources Minister, Vickram Bharrat, said that this achievement further underscores the government’s effort to ensure that Guyanese business continue to benefit from the ongoing developments in the oil and gas sector.
Speaking at the speaking at the ‘steel striking’ ceremony at the Guyana Shorebase Incorporated (GYSBI) in East Bank Demerara to mark the start of fabrication works on the vessel on Tuesday, Bharrat said the government has been working to ensure compliance with the Local Content law through its Local Content Secretariat. This includes monitoring, evaluating, and engaging with companies.
“We are happy that the investment that is being made is beneficial to our country and our people, and at the same time, there is the standard that is acceptable worldwide by the oil and gas industry. So, we are very comfortable with that,” he added.
The authorities say more than 300 tonnes of steel will be used to build the steel structures that form the backbone of the vessel.
The three local companies were hired by the Dutch shipbuilder SBM Offshore, which is responsible for constructing and installing the FPSO Jaguar.
SBM Offshore general manager, Martin Cheong, said the local companies also developed fabricated fixtures for the ONE GUYANA FPSO, a testament to not only SBM’s local content commitment, but the growing capacity of Guyanese businesses to compete in the budding sector.
“This ceremony also signifies the capability of our local fabricators to continue providing essential steel structures for the FPSOs, demonstrating their ability to reach and maintain international standards of fabrication,” he said.
President of ExxonMobil Guyana Ltd, Alistair Routledge, expressed similar sentiments, emphasising that this new milestone brings the total investment in Guyana to over US$55 billion.
“We could quite easily fabricate these components in China or Singapore, and some of these would have lower costs and easier to do. But that would not be in the spirit of the partnership with the country, and the intent of building the capacity and ensuring that the people in the country can truly benefit from the development of their natural resource,” he added.
