The landmark US$300 million Vreed-en-Hoop shore base facility was officially opened on Saturday, a move that Guyana’s President Dr. Irfaan Ali said is part of the long-term development of the country’s maritime and transport sector.
“This is that one additional asset that allows us to build one of the best marine industries and marine sectors in the region,” the Head of State said as he addressed Saturday’s inauguration ceremony.
He added, “It positions us to build a key transport and logistics hub.”
The venture, officially named the Vreed-en-Hoop Shorebase Inc (VEHSI) project, was completed in December. It is a partnership between a Guyanese company, NRG Holdings, and an international maritime infrastructure company, Jan De Nul. Among other things, the project involved the creation of a 44-acre artificial island where the shore base is.
In April 2022, VEHSI landed a mega contract with ExxonMobil Guyana to support future construction activities of the oil and gas giant. Through the contract, ExxonMobil Guyana will use this shore base to support its prolific operations offshore.
The shore base is expected to support petroleum operations, including offshore subsea equipment installation, storage and preservation of emergency response equipment such as the capping stack in-country now, and the fabrication of equipment such as pipeline end termination structures (PLETS) and flowline end termination structures (FLETS).
And President Ali noted that the government is also pursuing a deep water port, a second mega gas-to-energy project, and a refinery. He explained that these ventures, alongside the VEHSI project, will make the South American nation a regional powerhouse.
VEHSI Director Andron Alphonso said the project was supported by President Ali and his government. According to him, VEHSI is a result of bold thinking, support from key stakeholders and the willingness of Guyanese companies to join forces.
Importantly, Alphonso also highlighted that the venture is the first phase of a wider ‘Port of Vreed-en-Hoop’ project. About US$260 million has been spent so far.
‘A key milestone’ as sod turned for $62.7 billion Shore Base at V/Hoop
Additional details on the expansion of the project were shared by another VEHSI Director, Nicholas Deygoo-Boyer in a recent ‘Energy Perspectives’ podcast, produced by the Guyana Energy Conference. He said an expansion of the project could potentially support commercial shipping operations.
At Saturday’s event, Deygoo-Boyer alluded to the expansion of the project in the years to come.
He declared, “There is more to come.”
Meanwhile, President of ExxonMobil Guyana Alistair Routledge told those gathered at Saturday’s opening that the venture is a long-term investment in Guyana.
“This is the beginning of a 20-year contract.
“Our industry is one that invests over decades, it’s one that requires long-term investment… We look forward to supporting further investments for the expansion of this port,” Routledge said.
He also noted that 20 proposals for such a facility were received, and hailed the work of the partnership.
“Out of all of that, we could see the strength of the NRG (Holdings), Jan de Nul partnership,” Routledge said, noting that the selection process was highly competitive.
