Vreed-en-Hoop Shore Base Inc (VEHSI), silver sponsor of this year’s oil and gas conference, has outlined plans for the delivery of a fully operational, Exxon-leased shore base by December 2023.
The company in its presentation at the International Energy Conference said that the first phase of 10 acres remains on track to be completed and to be made operational by December 2023, with an additional 10 acres by July 2024 and the remainder in December 2024.
The works on the sand key reclamation continue at a rapid pace, with works on the artificial island being done around the clock.
Director of VEHSI, Nicholas Deygoo-Boyer in his presentation outlined the pace of works and the long-term vision of the project which will eventually see the full Port of Vreed-en-Hoop completed with as much as 800 acres of port facilities.
He also explained that Guyana needs deeper maritime accessibility and VESHI can deliver this along with the additional benefit of reducing shipping costs by 10 to 12% of what currently obtains. “Once fully realised the Port of Vreed-en-Hoop will tie into the country’s vision to expand Guyana’s development.”
He noted that there is space for expansion and VEHSI can facilitate other shore base builds thereby making the need for foreign bases to support operations in Guyana unnecessary.
VEHSI also praised the support they received from the Government of Guyana, noting that without the rapid pace of responses and the outpouring of support, the project could not have proceeded at such an accelerated pace.
The company also recognized the rapid speed at which President Irfaan Ali responded to the development plans for this project and the support received so far in helping the company to build out this world-class facility.
Guyana Standard previously reported that the shore base project started the first step in June, which entailed the dredging of the access channel in the Demerara River including the deepening/widening of the existing nautical channel, berth pockets, and turning basin.
This phase has been hailed a success by the project managers and the upgraded channel has been handed over to the Maritime Administration Department (MARAD) VEHSI started this year with the first signs of land emerging from the Demerara River as it accelerated its reclamation phase to now a working site in the river with full construction facilities and a Quay.
VEHSI is currently the largest Guyanese private sector investment in the oil and gas sector and is expected to cost over US$300 Million. According to the project directors, the support and encouragement given by the Government of Guyana have been reassuring and augur well for additional investment and the future of Guyana.
The project is expected to become operational in 2023.
Vreed-en-Hoop Shore base Inc. is a joint venture between NRG Holdings Inc.—a 100 per cent Guyanese-owned consortium that is the majority shareholder –and Jan De Nul, an international maritime infrastructure company headquartered in Luxembourg.