President of ExxonMobil Guyana Limited (EMGL), Alistair Routledge recently outlined that the decision to purchase two Floating Production Storage and Offloading (FPSO) vessels, is a strategic move aimed at enhancing both financial efficiency and local workforce development in Guyana.
Routledge recently appeared on the Energy Perspectives Podcast, where he explained how this approach enhances financial efficiency and supports local capacity-building efforts.
Last month, Exxon purchased FPSO Prosperity from SBM Offshore ahead of the maximum lease term which expires in November 2025. The company had previously purchased FPSO Unity also from SBM. These vessels are currently offshore Guyana supporting Exxon’s operations in the Stabroek Block.
“On the financial side, it’s more efficient for the investors and the country to purchase the FPSOs at this stage. Early leases or construction leases ensure the vessels are completed with quality and efficiency before purchase,” Routledge stated.
He added, “Long-term leases are generally a more expensive financing option, so this model offers significant savings.”
During the interview Routledge underscored ExxonMobil’s commitment to training and developing Guyana’s workforce. He said, “On the people side, training Guyanese is a fundamental priority. Early in the operations, expatriates were brought in to provide expertise and experience that wasn’t yet available locally.”
It was previously disclosed that Guyana will soon serve as ExxonMobil’s global hub for developing skills related to FPSO vessels.
Highlighting the company’s efforts, Routledge spoke about Exxon’s partnership with the government to establish the Guyana Technical Training College Institute (GTTCI) in Port Mourant, Berbice, Region Six. “We’re proud of our collaboration with the government…It’s internationally accredited and equipped with advanced facilities like a simulator plant, enabling trainees to learn offshore processes safely onshore,” he explained.
