International Group Investment Inc. (IGI) is a 100% Guyanese owned and operated company which recently won bids for two blocks in the shallow waters (S5 and S10) in the concluded Guyana Licensing Round 2022.

IGI Inc. Guyana is led the through Directorship of Guyanese Citizens Dr. Levi Wilson Odoe who by profession is a Lawyer and International Arbitrator; and Mrs. Esther Allison Odoe, Director and Legal Advisor, was educated in Law at Nottingham Law School, UK; holds an LLB Hons Degree.

IGI Inc. prides itself on being a leading force in the construction, education, agriculture, and the Oil and Gas industries. With a legacy of excellence spanning ten years internationally, its commitment to innovation, quality, and client satisfaction remains unwavering.

In the construction sector, it has earned a reputation for transforming dreams into reality, whether it’s creating stunning residential spaces, innovative commercial developments, or vital road infrastructure. Its expertise and dedication shine through in every project, reflecting its core values of integrity, excellence, and safety. In addition to its construction endeavors, it is actively engaged in the dynamic world of Oil and Gas.

IGI Inc. understand the vital role this industry plays in powering economies and improving lives. Its exploration, production, refining, and distribution services are all geared towards delivering reliable energy solutions while prioritising sustainability and environmental stewardship.

At IGI Inc., its client-centric approach is the cornerstone of its operations. It collaborates closely with clients to understand their unique visions and requirements, ensuring that every project undertaken, whether in construction or the Oil and Gas sector, is tailored to meet specific goals and objectives.

It has, in complying with Guyana’s Local Content Policy identified four working pillars that will ensure its objectives are met upon commencement of operations in blocks S5 and S10;

These pillars include;

  • Employment Opportunities

IGI Inc. encourages local capacity building through close cooperation with local communities, including business interests, as well as developing the enterprise’s activities in the domestic market consistent with the need for sound commercial practice guided by Guyana’s Local Content Policy; we encourage human capital formation, in particular by creating employment opportunities and facilitating training opportunities for employees. Greater preference of employment will be immediately granted to Guyanese favourable to more than 70%, and where lacking consideration of outsourcing will be given. To ensure that the standards of delivery and performance is maintained, constant capacity building through training will be moduled and executed which further will be measured through quality assurance checks

  • Supply Chain

Recognizing and appreciating the intent to build capacity among local micro and macro businesses, IGI Inc. intends to work closely with the already established Guyana Centre for Local Business Development to assist in the sourcing of suitable local contractors which will aid in transportation, maintenance, security, procurement etc. IGI Inc. business model envisages that it can achieve its economic, environmental and social goals through managerial decisions and actions that facilitate strategic and transparent integration of key business processes cooperation among participants in supply chain. It believes that by giving local suppliers the opportunity to deliver, their standards of service will be significantly improved. First preference will always be given to Guyanese suppliers

  • Societal Development

While IGI Inc. continues to develop blocks, it has not lost sight of its commitment to play its role as an enlightened corporate institute. Corporate Social Responsibility will always be on its agenda. Further pursuant to the Ministry of Natural Resources Corporate Social Responsibility Framework 2017- 2020 which gives guidance on how companies, particularly those in the extractive industries sector, can make a tangible contribution to the development of all Guyanese; IGI Inc. will be guided but as a company has already identified areas of interest which it believes can make contributions immensely such as; water and food security, rural health care, education etc.

  • Environmental Sustainability

IGI Inc. being a reputable company understands the importance of environmental suitability and the need for minimal carbon footprint will liaise with the Environmental Protection Agency to ensure best practices are enforced at all times. IGI Inc. commits to;

  • Ensuring environmental sustainability, ecological balance, protection of flora & fauna, animal welfare, agroforestry, conservation of natural resources & maintaining quality of soil, air & water;
  • Contribution towards Natural Disaster Mitigation and for such other purposes and activities as may be permitted, from time to time.
  • Give support to Non-Governmental Organisations that focuses on environment conservation and ecosystem preservation

Director Dr. Odoe, commends the Government of Guyana immensely for creating such enabling business environment and opportunities for investments that is attracting the global business community. We look forward to a successful working partnership.

Energy Conference and Supply Chain Expo seeking to highlight more opportunities for Guyanese in Oil and Gas

Jan 30, 2024

Minister of Natural Resources, Vickram Bharrat believes Guyana has made significant leaps and bounds since the 2023 Energy Conference.

At a press conference this morning on this year’s conference which will take place from the 19th to 22nd February, the Natural Resources Minister said this year’s event will provide additional opportunities to Guyanese businesses across the various sectors.

“By the time of the conference on the 19th of February, we will be producing comfortably at 600,000 barrel per day average. At the last energy conference, we were about 380,000 to 390,000 barrels per day. So, a lot has happened since the last energy conference to this one. And increase in production definitely spells opportunities – opportunities throughout the value chain, opportunities for the private sector in the provision of goods and services,” Minister Bharrat said.

The Natural Resources Minister said the Guyana Energy Conference and Supply Chain Expo will create an ideal platform for small, medium and large-scale businesses and companies to network and build partnerships.

Minister Bharrat said since the Local Content Act was brought into effect in December 2021, there has been an increasing number of joint venture partnerships involving local and foreign companies seeking to tap into the booming oil and gas Industry, as well as other related industries.

He said “since then, we have seen the smooth implementation of the legislation by Local Content Secretariat, and what we have witnessed is a number of joint ventures, partnerships between international investors and our local private sector, and that was the objective of having a Local Content Legislation”.

According to the Minister, given the growth in the industry; the Government is considering the possibility of increasing the number of services listed in Schedule 1 of the Local Content Act. Currently, the schedule caters for 40 services, and details what percentage of those services must be provided by Guyanese-owned and controlled businesses.

Chief Executive Officer (CEO) of the Guyana Energy Conference and Supply Chain Expo, Kurt Baboolall said in addition to the 30 sponsors currently onboard, the country’s premier energy conference has already attracted 200 exhibitors, and hundreds of delegates from 19 different sectors across 21 countries.

He said the Energy Conference and Supply Chain Expo will cover a range of topics, including “Shaping the Future of Energy; Trends and Challenges; Best Practices; Building Resilience in the Global Supply Chain; and Growth and Collaboration – Strategies for Emerging Economies, among others, and Guyanese, he said should seize the opportunity”.

“The way that we have built out the event is that there is access to participate from every level from small businesses to even entrepreneurs, self-employed persons, SMEs to families because it is a family-oriented event. But you can participate by just purchasing a $1000 for an exhibition ticket, come in with your business cards, come in with your proposals, come in with your CVs. There are 200 exhibitors, who are there to interact with you. So, I do believe there is opportunity for every person at different level. There are opportunities for our sponsors, there are opportunities for our exhibitors, there are opportunities for our delegates, and there are opportunities for the persons coming into the exhibition,” he explained.

The President of Guyana, Irfaan Ali; the Prime Minister of Trinidad and Tobago, Dr Keith Rowley; the Prime Minister of The Bahamas, Philip Davis; the Prime Minister of Qatar, Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani and the Minister of Industry, Energy, and Technology of Newfoundland, Canada, Andrew Parsons are among the growing list of dignitaries and world leaders, who are expected to join a long list of industry experts, policymakers and foreign officials at the conference next month.

Director of the Guyana Office for Investment (GO-Invest), Dr Peter Ramsaroop; Chairman of the Private Sector, Komal Singh; and GTT’s Chief Operations Officer, Orson Ferguson were among the other officials present at the press conference, offering their wide-ranging support for the upcoming event.

 

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ExxonMobil Guyana Named Title Sponsor for the Third Consecutive Year at the Guyana Energy Conference and Supply Chain Expo 2024

Jan 04, 2024

ExxonMobil Guyana has once again offered its full support for the Guyana Energy Conference and Supply Chain Expo billed for the Marriott Hotel from February 19 – 22, 2024.  

The Guyana Energy Conference and Supply Chain Expo is delighted to announce ExxonMobil Guyana as the title sponsor for the third consecutive year. As a global leader in the energy sector, ExxonMobil’s support underscores its commitment to advancing dialogue and collaboration in the dynamic landscape of the energy and supply chain industries. 

The Secretariat for the Guyana Energy Conference and Supply Chain Expo is pleased that ExxonMobil Guyana has chosen to be associated with this high-profile event in this capacity.  

Commenting on the sponsorship, President of ExxonMobil Guyana, Alistair Routledge said, “our continued support for this event is an undeniable signal of our commitment to contribute to the robust growth of the local energy sector and sustainable development of Guyana.”  

Kurt Baboolall, Chief Executive Officer of the Conference believes that the company’s participation at this level is testament to the success of the two previous conferences.  

He said, “We are honored to have ExxonMobil Guyana as the title sponsor for the third consecutive year. Their unwavering commitment to our conference underscores the significance of our shared goals in promoting advancements and collaboration within the energy sector.” 

The Conference, to be held under the theme, ‘Fueling Transformation and Modernisation’ is expected to assemble an impressive line-up of industry experts, policymakers and foreign officials to the benefit of local and international entrepreneurs.  

ExxonMobil Guyana will play a pivotal role in shaping discussions, sharing insights, and contributing to the overall success of the Guyana Energy Conference and Supply Chain Expo. The collaboration will provide a platform for the company to showcase its commitment to innovation, people and sustainability.  

The Guyana Energy Conference and Supply Chain Expo is an annual event that brings together industry leaders, policymakers, and stakeholders to discuss the latest developments, challenges, and opportunities in the energy and supply chain sectors. The conference aims to foster collaboration, innovation, and sustainable practices for the future of the industry. 

Opportunities are available for other companies to offer their support as sponsors in the Platinum, Diamond, Gold and Silver categories.  

While it varies, sponsorship opportunities allow for a wide range of branding and exposure for building network and expanding operations.  

Persons and companies interested in booking any of the sponsorship packages are advised to visit the website www.guyanaenergy.gy  to download and complete the sponsor registration form.  

General delegate registration for the Conference and Expo is also open for in person and virtual participation and persons can do so by also visiting the website before February 10, 2024.  

Exhibitions are hosted simultaneously with the main conference and exhibition packages are available separately for those interested.  

Book your booth or your seat to the conference and benefit from other promotional opportunities TODAY! 

Guyana empowered to ensure coverage of all oil spill costs beyond Exxon’s US$2B parent company guarantee – EPA Head

Jun 04, 2024

By Kiana Wilburg, CEO at Guyana Energy Conference & Supply Chain Expo

While an ExxonMobil-consortium in the Stabroek block has furnished Guyana with a US$2 billion parent company guarantee for oil spills, as well as a US$600 million insurance package, authorities are empowered to ensure all liabilities beyond these are covered.

This was recently noted by Head of the Environmental Protection Agency (EPA), Kemraj Parsram during his appearance on the Energy Perspectives podcast, a programme powered by the Guyana Energy Conference and Supply Chain Expo.

According to Parsram, the Environmental Protection Act is clear about full liability.

“In the words of the Act, it is ‘strict liability.’ What that means is that if you are a permit holder, you are fully responsible and fully liable for any pollution that you cause and that does not have to be proven.”

Expounding on how this translates to securitization, the EPA head said an estimate had to be arrived at, as per the conditions of the law. In this regard, the EPA reviewed guidelines used by the National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) as well as authorities in the United Kingdom, USA and Canada.

Parsram said international guidelines require conducting an exercise to arrive at an estimate of the reasonable credible cost of an oil spill. This would then be used as a guide on what the parent company guarantee would be, hence US$2 billion was arrived at for the Stabroek block.

“Now please note that the US$2 billion is the floor. With increasing developments, that estimate can go up. So, it is not the ceiling, it is the floor. Now, let’s say we find the cost is more, there is a clause that says the EPA and the guarantor can negotiate fulfilling that. But irrespective, the polluter stands the full cost,” the EPA head emphasised.

He was also keen to note that the EPA requires ExxonMobil and its partners – Hess and CNOOC – to provide authorities with an annual declaration of their liquidity. This ensures that at all times, the regulator is aware that the companies can cover their liabilities.

As an added layer of protection, he said ExxonMobil and its partners are required to keep a capping stack in country. This device is critical as it stops or redirects the flow of hydrocarbons, buying engineers time to seal the well permanently. ExxonMobil is also required to maintain a subscription to another. Further to this, Parsram said inspections are done on ExxonMobil’s blowout preventers to always ensure their integrity.

On the reporting side, he said there is a requirement for environmental effects monitoring. In this regard, he said ExxonMobil must monitor the effects of its discharges and emissions on water quality and biodiversity.

Overall, he said these are some of the key mechanisms in place to protect Guyana, and which also lend to the EPA’s goal of becoming a world-class regulator.

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