Since 2015, ExxonMobil Guyana has spent more than $85B on 600 local businesses. Making this disclosure was President of the subsidiary, Alistair Routledge. He was at the time delivering remarks on Saturday at the Liza Unity Dedication Ceremony. There, Routledge reaffirmed that Exxon and its joint venture partners, CNOOC Petroleum Guyana Limited (formerly CNOOC/NEXEN) and Hess Corporation, are committed to the responsible development of Guyana’s oil and gas resources.
“These projects are Guyana’s projects developing Guyana’s resources. We have made tremendous progress in that respect. To date, over 600 local businesses are supporting the local operations in Guyana. We have spent over $85B with those businesses since 2015 and in the first quarter of 2021, we have spent 8B. That is impressive progress,” Routledge told the ceremony.
Exxon has also made significant strides in investing in institutions that are essential to the development of Guyanese talent, Routledge pointed out. To this end, he recalled that the US oil giant has invested in not just the University of Guyana (UG), but technical vocational education institutions as well.
Just earlier this year, Exxon had announced a $20B Greater Guyana Initiative (GGI), aimed at providing funding for developmental programmes, equipment, and research. GGI’s capacity development efforts will include programmes designed in consultation with Guyana’s Technical and Vocational Education and Training, the Centre for Local Business Development, and UG.
This initiative, which is fully funded by Exxon and its partners, will also focus on supporting regional initiatives and capacity development of diverse sectors including health and agriculture.
“We have also invested heavily in the Centre for Local Business Development,” Routledge stated, “which has been an absolutely critical tool in ensuring businesses and local business people and entrepreneurs have the help they need to start in business; to understand what it means to work in support of our industry, to prepare them to compete – not just amongst themselves, but to build up a capability to compete at an international level. So indeed, we are very proud of our progress…”
The ExxonMobil President emphasised that it is imperative that the Government and Exxon continue its partnership to see the successful development of Guyana’s oil and gas resources.
