The government is pursuing the development of a deep water harbour in the Atlantic Ocean to accommodate large vessels, a project which once completed will also benefit other South American Countries including Suriname, Brazil, and possibly French Guiana.
“It’s a project that is across borders… we have started discussion with both Brazil and Suriname and all three countries are fully committed,” President Irfaan Ali told reporters during a virtual press conference on Friday.
Noting its importance to doing business, Dr. Ali said the government is looking to fund the project through private sector investment with commitments from the United Arab Emirates (UAE) to help in that regard.
“Abu Dhabi Port is looking at leading the studies to come up with a technical evaluation and then financial evaluation… the initial assessment is one of great optimism,” Dr. Ali said.
The President, who recently held discussions with investors in Dubai and other parts of the Middle East and also held discussions with Khalifa Port, said there is strong support for the project.
“They believe that this is a project that can happen, that this is a project that is viable, they are now working on the financial details.”
They are looking at a modern state-of-the-art facility operation with cutting edge technology, focusing on efficiency, safety, and security,” Dr. Ali said.
The President said that a team from Khalifa Port is expected in Guyana in another two to three weeks to follow up with an evaluation.
This port is expected to provide access to the Atlantic Ocean to other South American countries and discussions have been ongoing in this regard for decades.
Guyana, Suriname, Brazil, and French Guiana are expected to come together next year to take the discussions further.
Already, Canadian oil-and-gas exploration company, CGX Energy Inc has commenced major civil works for the Berbice Deep-Water Port (BDWP).
The company holds three licenses in the Guyana-Suriname Basin, a frontier Basin in South America with a proven hydrocarbon system, and highly-prospective deep-water plays that can be drilled in shallow water.
Currently, work is ongoing on the access road and connecting bridge, relocation of utilities, and major construction of the site along the Berbice River.