The multimillion deep water port being built aback Seawell village in Berbice could become a major hub for oil and gas business because of oil finds at nearby wells in Guyana and Suriname, Dr Suresh Narine, the Executive Chairman of CGX Energy, has said.
According to Dr Narine, some components of the port should be completed by October 2022.
Because of its location at the mouth of the Berbice river, Dr. Narine posited that the port is at a “prime location” to serve the offshore industry in both Guyana and Suriname.
Why this is noteworthy, the Executive Chairman reasoned, is because there is “very encouraging dialogue” ongoing between the authorities of the neighbouring countries about oil exploration and production in their joint offshore basin.
In 2020, during President Irfaan Ali’s state visit to Suriname, it was announced that the two countries would be considering the feasibility of a joint deep water harbour.
While the increasing collaboration between the two countries signals exciting prospects for CGX Energy, Dr. Narine also pointed out that the company itself is engaged in oil exploration activities in the Corentyne block offshore Guyana.
“… and a success in our own well means an explosion of business in our own port,” Dr. Narine highlighted.
Earlier this month, Canadian-based firm Frontera Energy, which is the majority owner of CGX Energy and its partner in the Corentyne Block offshore Guyana, discovered some hydrocarbon presence (oil reserves) at the Kawa-1 exploration well.
Drilling at this well commenced in August and further drilling is needed to ascertain the commercial viability of the well.
Dr Narine pointed out that if the company is successful in its own oil exploration pursuits, then there could be fewer opportunities to provide services to companies operating in Suriname.
With further drilling needed at the Kawa-1 well, Dr. Narine emphasised, “The next few months are going to be exciting for us.”
Oil and gas support services at a deep-water port include ports or terminals for the loading, unloading, or handling of oil for transportation.
The Berbice port is expected to accommodate two platform supply vessels. It was also reported that there are plans to build a compacted port site with warehousing and tubular storage.
Aside from these oil and gas support services, Dr. Narine said there is also a section of the port that is expected to facilitate exports, including all of the rice produced in Regions Five and Six.
