Fourth FPSO to be operational by August

President of ExxonMobil Guyana Limited, Alistair Routledge, has announced that the fourth Floating Production, Storage, and Offloading (FPSO) vessel will be operational by August, leading to an increase in daily production to 900,000 barrels per day.
He made the announcement while reflecting on the company’s journey from exploration and discovery to production during the Offshore Technology Conference on Tuesday, where Guyana was featured on the ‘Around the World Series’ panel discussion.
“Just last week we produced 668,000 barrels per day of crude from three developments,” Routledge stated.
The event also featured the Georgetown Chamber of Commerce and Industry (GCCI) delegation, providing crucial insights into the country’s energy sector development.
GCCI President, Kathy Smith, provided a candid overview of the Chamber’s focus on local content and ensuring benefits for local companies in partnerships with foreign companies, establishing that the Chamber was the proponent of local content legislation in Guyana.

She also offered insights into the local private sector’s development and the Chamber’s membership growth, which has reached nearly 1,000 members over the past several years.
Meanwhile, Chief Investment Officer and Agency Head of the Guyana Office for Investment, Dr. Peter Ramsaroop, spoke of the country’s measured and integrated plan of development—one focused on the modernisation of pre-oil and gas industries and the development of new industries. He also emphasised the importance of aligning investment with local content utilisation.
GCCI Executive Member and economist Richard Rambarran shared his perspective on the country’s economic development and the safeguards implemented to protect it from the “overheating of the economy.”
“Everyone wants to know that the economy and the environment that they are coming into is one that is stable and ensuring that one guards against direct exposure to price volatility is of paramount importance,” Rambarran said.
He highlighted Guyana’s Natural Resource Fund, the country’s Sovereign Wealth Fund, as one such safeguard, ensuring resources are available for the stable and sustainable growth of the government’s work programme.

Director of the Vreed-en-Hoop Shore Base, Nicholas Deygoo-Boyer, also spoke on local content development from the perspective of local companies investing in infrastructure.
“We recognised that one of the things that were missing from Guyana was critical infrastructures for Exxon’s operations. When we conceptualised this, we looked at those factors and then we internally made the decision—are we willing to take the risk and invest?” he noted.
Deygoo-Boyer explained that he and his partners listened to stakeholders within the industry and considered industry projections in Guyana.
“The risk was there on paper, but our gut and instinct told us that we felt very confident that it was a very safe bet,” he added.
Senior Vice President of transport and logistics company Blue Water Shipping, Richard DeNobrega, highlighted the importance of capacity-building in the local content journey.
“Some of the most successful companies in Guyana right now are the companies that have balanced training and capacity enhancement with investment,” he stated.