MODEC launches Guyana office, creating 160+ jobs in expanding oil sector

Guyana’s rapidly expanding oil and gas sector is set to benefit from over 160 sustained local jobs with the official opening of a Mitsui Ocean Development & Engineering Company Inc. (MODEC) office in Georgetown.

The Japanese offshore engineering giant’s investment not only strengthens the country’s energy sector but also brings meaningful employment and training opportunities for Guyanese.

MODEC’s local operations align with the government’s local content push to ensure that the nation’s energy wealth creates direct economic opportunities for its people.

The company, a global leader in floating offshore production systems for over 55 years, marked its official entry at a ceremony on Friday at Pegasus Corporate Suites.

Minister of Tourism, Industry and Commerce Oneidge Walrond, delivering remarks on behalf of President Dr Mohamed Irfaan Ali, described MODEC’s presence as a serious and meaningful commitment to Guyana’s development.

Addressing the gathering, Minister Walrond said MODEC’s arrival in Guyana signals a serious and meaningful commitment on their part.

“This is not a company dipping its toes in the water. MODEC has come with purpose, promise and proven performance,” she said.

Minister Walrond emphasised that MODEC’s investment goes beyond oil production; it also opens doors for Guyanese employment and development.

“MODEC operations will generate hundreds of jobs during the startup phase alone, and when production begins, more than 160 jobs will be sustained and many of those will be Guyanese,” the Minister noted. “That is why we welcome MODEC, not just as a contractor, but as a partner in nation building.”

She also highlighted the impact of Guyana’s local content legislation, calling it “groundbreaking.” Since its implementation, over $1.5 billion in contracts have been secured, with more than 1,100 companies actively participating in the oil and gas sector. They span a wide range of industries, including logistics, security, transportation, accommodation, catering, waste management, construction, and technical services.

MODEC Group President and CEO Hirohiko Miyata reaffirmed the company’s long-term commitment to Guyana’s development. (DPI)