The Guyana Revenue Authority (GRA) has ramped up its efforts to strengthen oversight of shorebases and their oil and gas activities. According to the Ministry of Finance’s 2024 mid-year report, GRA has strategically staffed key departments responsible for reviewing oil companies’ revenues, cost recovery statements, and conducting essential customs controls. These efforts are part of the government’s broader plan to enhance regulatory oversight in the rapidly growing oil sector.
One of the key initiatives has been the operationalization of an office at the Customs Boathouse. This facility now ensures the timely processing of vessels entering and exiting Guyana’s shores, with a particular focus on those involved in the oil and gas supply chain. The office handles the lodging of necessary documentation, ensuring smooth operations and reducing delays that could disrupt oil production timelines.
To further enhance monitoring, GRA has developed Standard Operating Procedures (SOPs) that will improve the oversight of all shorebases. Once approved by the Customs and Trade Administration, these SOPs will guide the examination of outbound vessels carrying oil and gas-related items, file closures, and the deployment of officers aboard installation vessels equipped with helipads for inbound and outbound cargo checks. This step is expected to significantly tighten the regulatory framework around cargo movements, preventing unauthorized shipments and ensuring compliance with local laws.
This push for greater oversight comes as Guyana’s shorebase capacity has expanded significantly since 2020 to meet the demands of growing offshore oil activity. According to a 2024 OilNOW report, the Ministry of Public Works has approved eight new projects during this period, catering to the logistics needs of the country’s booming oil sector. Among the approved projects is the expansion of the Guyana Shore Base Inc. (GYBSI) facility at Houston. This expansion, covering 170 acres of canefield lands, is expected to boost support for offshore operations.
Another major development is the Vreed-en-Hoop Shore Base Inc.
(VEHSI), a massive project located at the Port of Vreed-en-Hoop, which will be Guyana’s first modern multi-purpose port. VEHSI, a joint venture between NRG Holdings Inc. and several local businesses, is a critical component of ExxonMobil’s Yellowtail development, Guyana’s fourth oil production project. Other shorebase projects include facilities at Tristar Versailles, Hadi’s World, and Diamond Shore Base Inc., all strategically located to support the increasing volume of oil and gas activities.
As Guyana’s oil sector continues to grow, GRA’s role in ensuring proper oversight becomes even more crucial. By implementing these enhancements, including the operationalization of the Customs Boathouse and the development of SOPs, GRA is reinforcing its capacity to monitor the influx and outflow of resources. This proactive approach ensures that the nation benefits from its oil wealth while maintaining transparency and accountability.
