Thursday, April 18, 2024
HomeBUSINESSOver $80B spent by Exxon, contractors for 2022 with 1,500 Guyanese businesses

Over $80B spent by Exxon, contractors for 2022 with 1,500 Guyanese businesses

ExxonMobil Guyana said that it had spent, along with its contractors, more than $80 billion or US$400 million with more than 1,500 Guyanese businesses in 2022 alone.

That is part of the more than $180 billion or US$900 million spent with locals since the first discovery in 2015.

By the end of 2022, the company and contractors had employed over 5,000 Guyanese workers, representing more than 65 per cent of the overall workforce in the local oil and gas industry. 

Notably, the number of Guyanese working offshore continued to grow. Among the 2,700 personnel committed to supporting ExxonMobil Guyana’s operations, over 1,300 were Guyanese, constituting approximately 48 per cent of the offshore workforce.

 These numbers will continue to increase as more projects come onstream, providing opportunities for businesses and individuals alike.

“We believe that the true measure of our success lies not only in the barrels produced but also in the positive impact we create for our people and the communities in which we operate. By prioritising local talent, partnerships, and investments, we aim to cultivate a thriving and sustainable environment that benefits everyone,” said President of ExxonMobil Guyana Alistair Routledge.

 On Monday, the operator received a Letter of Approval from the Ministry of Natural Resources for its 2023 Local Content Annual Plan and its Certificate of Compliance for 2022.

The 2023 Plan describes how the company intends to execute projects and implement systems to promote the development of local content this year. 

ExxonMobil Guyana’s evolving strategic plan for operational growth includes balancing meeting the needs of the business while developing Guyanese content in a phased approach. It is assessed annually to ensure objectives are met in a sustainable and systematic manner.

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