This is Guyana’s time; this is Guyana’s hour: On the evening of August 16, 2023, an enlightening and transformative dialogue unfolded at the Chancellor’s Hall, Senate House, University of London. This gathering, titled “Navigating a Changing Guyana: Pathways to Prosperity in the Era of Oil and Gas,” was meticulously organized to delve into the profound implications of Guyana’s burgeoning oil and gas sector.
Seminar organiser of “Navigating a Changing Guyana: Pathways to Prosperity in the Era of Oil and Gas,” Dr Terrence R. Blackman. Photo courtesy GBJ / CaribDirect.com
The collaboration between The Guyana Business Journal & Magazine (GBJ), the Caribbean Policy Consortium, Manchester Trade Inc., Guyana SPEAKS, and The Guyana UK Social Development Association brought together distinguished figures from diverse disciplines. Renowned experts from the private and public sectors in Guyana and the Diaspora converged in thought-provoking discussions, offering invaluable insights into the array of opportunities and challenges.
Mr. Alistair Routledge, President of Esso Exploration and Production Guyana Ltd. Photo courtesy GBJ / CaribDirect.com
The centerpiece of the evening was a comprehensive UK Diaspora Oil & Gas Update on the ExxonMobil–Guyana Partnership, delivered by Mr. Alistair Routledge, President of Esso Exploration and Production Guyana Ltd. During this illuminating presentation, Routledge disclosed pivotal information about Guyana’s rapidly evolving oil and gas sector. He projected that Guyana’s annual earnings from this sector would soar impressively to US$10 billion by 2030.
Mr. Alistair Routledge, President of Esso Exploration and Production Guyana Ltd., with CaribDirect Multi-Media Ltd., CEO David F. Roberts. Photo courtesy GBJ / CaribDirect.com
Additionally, he revealed ExxonMobil’s plans to submit its Field Development Plan (FDP) for its sixth Whiptail project in October 2023. Routledge emphasized, “We now have sanctioned five major developments… those cumulatively amount to an investment commitment of well in excess of US$40 billion. This represents a massive investment for the country and is expected to deliver approximately US$10 billion a year of revenue to the State by the end of this decade.”
In a testament to ExxonMobil’s dedication to Guyana’s progress, Routledge underscored the company’s role in ensuring a positive impact on the nation. This includes bolstering the country’s financial resources and fostering local content opportunities. He highlighted that all proceeds from the oil industry earmarked for Guyana are funneled into the Natural Resource Fund (NRF), contributing to the nation’s overall development.
Group photo of the panellists; Sitting (L to R): Michele Small, Allistair Routledge, Terrence Blackman, Juanita Cox. Standing (L to R): Riyad Insanally, David F. Roberts, Orin Alexander, Faisal Khan, Carl Greenidge, Rosh Khan, Rod Westmaas, John Mair, David Lewis. Photo courtesy GBJ / CaribDirect.com
