Exxon boasts of more spending on Guyanese suppliers in local content push

Oil giant ExxonMobil boasted of greater spending on goods and services procured from Guyanese suppliers this year amid a greater push towards fulfilling its local content obligations.

President of ExxonMobil Guyana Alistair Routledge on Tuesday told those gathered at the Guyana Supplier Forum that in the first half of 2022, ExxonMobil and its contractors spent more than US$127 million (or GY$25.4 billion) with local suppliers.

This expenditure is part of the US$700 million spent with those suppliers since 2015. Since that year, Routledge said that more than 1,000 Guyanese vendors have been tapped.

“… you can tell that the pace of investment and the pace of spending is building,” he said at the Forum hosted at the Track and Field facility at Leonora, West Coast Demerara.

With production and exploration expanding offshore and at least one massive project, the Wales gas-to-energy project expected onshore, the company head said more opportunities for Guyanese are expected.

It is for this reason the company’s largest supplier forum was hosted in Region Three.

This region is touted as the fastest-growing district in Guyana with new public and private developments emerging. The Wales gas-to-energy project, however, is expected to stimulate job creation and business opportunities.

As such, the forum targeted businesses and residents of the region for partnerships and hiring opportunities.

“Today and tomorrow are about learning about the opportunities that are coming.. about what are the requirements and how do you get there,” Routledge said.

GAICO Construction Inc, a local company that is establishing a new shore base in Region Three, was among those companies at the supplier forum.

According to the company’s Managing Director Komal Singh, business opportunities abound in the Region because the gas-to-energy project alone is expected to boost the demand for catering, transportation, construction, and other goods and services.

But he reminded that with Guyana’s new Local Content law, there is some preference for Guyanese nationals and Guyanese companies participating in the sector. In fact, there are 40 service areas specifically set aside for Guyanese and oil companies