Stanley Ming in US$200 million venture to build oil and gas shore base near Parika
Prominent businessman and former Parliamentarian Stanley Ming is pursuing a US$200 million venture to build a shore base called Ishika along the Essequibo River close to Parika that he says is 12 times the size of the current Guyana Shore Base at Houston, East Bank Demerara.
He told the News Room that construction is expected to start in February next year. The first phase will utilise a plot of land that is more than 300 acres. In total, Ming said he has access to some 1, 000 acres of land.
The plan is to build a fully integrated services base and port facilities to support all activities in relation with the oil and gas industry in Guyana, from exploration to production, and for all depths (shallow water / deepwater / ultra-deepwater).
The development will include the creation of a navigation channel for all types of vessels, the creation of a 500m jetty with heavy lifting equipment and approximately 500,000m2 of land development including laydown area, stacking area, warehouses, offices, residential area among others. In addition, Isika Shore Base will be also able to provide:
- Qualified personnel and dedicated equipment
- Operations for Commercial Port
- Handling and management of materials
- Dedicated areas for Subsea Construction, Fabrication Yard, Assembly and Erection
- Facility for Dry-docking & Ship repair
- Tubulars storage, machine shop & coating
The project, Ming said, is being done in collaboration with InterOil, a company that has done similar projects in Africa. The joint venture has resulted in the formation of a company called InterOil Guyana.
The development of the project could employ an estimated 1, 000 persons.
The intention is to have the first section of the pier/berth facility, along with an initial storage area and warehouses, constructed by the end of July 2020.
The remainder of the first 1,500 feet of waterfront development is scheduled for completion by December 2020.
The river in front of the site, is over three miles wide, between the east bank and Hogg Island, and provides sheltered anchorage for several large ships at any given time.
Ming pointed out that a lot of traffic that encumbers East Bank road is traffic from West Demerara because 40% of the workforce comes from Region Three.
The project will provide employment for people along the West Demerara/East Bank Essequibo corridor, Ming stated.
The river at the project site, according to Ming, is more than four times the width of port Georgetown and the channel at Parika is deeper than that of the Demerara River.
On its website, InterOil International describes its core activity as being to invest and financially support Onshore and Offshore development Projects in Africa and the Middle East and the Far East.
It credits itself with success in the developments of infrastructures in Nigeria, Angola and Mozambique.
