The International Energy Conference and Expo 2023 welcomed Guyana Shore Base Inc. (GYSBI) onboard as a gold sponsor of the event, February 14–17, 2023.

Kurt Baboollal, Chief Executive Officer of the International Energy Conference and Expo Guyana 2023 said, “I’d like to extend a warm welcome to GYSBI as a new gold sponsor of the conference and expo. As a Guyanese company, GYSBI is demonstrating leadership in Guyana’s energy industry and will be displaying its extensive service offerings to the Guyanese public at the expo. They have grown and expanded quite largely over the past years, and we are excited to see all that has been taking place.”
GYSBI was formed in 2017 to provide shore base services to ExxonMobil following the discovery of oil. Throughout the past five years, GYSBI has continuously expanded to cater to the needs of the industry. It now serves as the preferred onshore support hub for oil and gas operators in Guyana, providing services ranging from vessel management, waste management, and warehousing solutions to construction and supply chain management.
With immediate water access and four berths, its main port consists of 30 acres of developed land, while its 140-acre industrial estate has been developed to suit a myriad of needs.
Today, the company boasts more than 710 employees, maintaining a minimum of 95 percent Guyanese workers and is a leading developer of local content here in Guyana.

Gomatie Gangadin, Public Relations Manager of GYSBI said, “We are indeed proud to be associated with the International Energy Conference and Expo as it provides the ideal platform, not only to educate and inform everyone of what’s taking place offshore Guyana and within the Oil and Gas Industry, but also the opportunity for local businesses like ourselves, to let industry leaders know how we are supporting these efforts, what services we offer and what areas are available for cooperation and collaboration.”
The Conference and Expo was hosted under the theme ‘Harnessing Energy for Development’ and is expected to assemble Heads of State and Government, policymakers, academics, industry professionals, government officials and global energy thought leaders.
So far, the International Energy Conference and Expo Guyana 2023 has been able to garner support from the Government of Guyana. The event has been able to attract over 30 sponsors and close to 200 exhibitors.

MODEC has announced that it has signed a contract to perform Front End Engineering and Design (FEED) for a Floating Production, Storage, and Offloading vessel (FPSO) for the “Uaru” development project. The FEED contract award relates to the initial funding by ExxonMobil’s subsidiary, Esso Exploration and Production Guyana Limited (EEPGL), to begin FEED activities related to the FPSO design and to secure the second M350TM hull for FPSO service.

Following FEED and subject to government approvals in Guyana of the development plan, project sanction including the final investment decision by ExxonMobil and EEPGL’s release of the second phase (EPCI) of work, MODEC is expected to construct the FPSO and install it in Guyana. MODEC is also anticipated to operate the FPSO for an initial duration of 10 years, with potential options for continuation.

MODEC will design and construct the FPSO based on its M350 new-build design. Uaru will be the second M350 hull used for FPSO service. The FPSO will be designed to produce 250,000 barrels of oil per day and will have an associated gas treatment capacity of 540 million cubic feet per day and a water injection capacity of 350,000 barrels per day.

The FPSO will be installed in a water depth of about 2000 meters using a SOFEC Spread Mooring System and will be able to store around 2 million barrels of crude oil.

“We are extremely honored and proud to be selected to provide the FEED services for an FPSO for the UARU project,” commented Takeshi Kanamori, President, and CEO of MODEC. “We are equally proud of our robust track record of successful project deliveries in the South America region, and we look forward to cooperating closely with the client and its partners to make this project a success.”

Premier Insurance, the sole insurance company to sponsor the second edition of the International Energy Conference and Expo Guyana 2023, returned as a Silver Sponsor as it leads the charge for energy insurance.

PREMIER Insurance Company Inc. (PREMIER) commenced operations on January 4, 2021, and has quickly established itself as one of the leading insurers in Guyana. Premier is gyA+ rated by CariCRIS and backed by the financial strength and experience of its CariA rated parent company, as well as A rated reinsurers.
For the second year, the company is leading the charge when it comes to supporting the energy sector in Guyana, as it provides unique insurance products to the oil and gas industry and a suite of customisable general insurance products, including fire, auto, commercial, liability, and bonds, with the company launching its PREMIER Signature Auto policy at the expo in February.

PREMIER’s local Managing Director, Anil Singh, said, “Our decision to come on-board this year reflects our commitment to continue helping in the development of Guyana. We took a step further by onboarding as a Silver Sponsor, which is a huge upgrade from our last year’s participation. Insurance plays an integral part in every contract execution within the oil industry, and we are happy to be here to lend our reach of international reinsurance support.”

Kurt Baboolall, Chief Executive Officer of the International Energy Conference and Expo Guyana 2023 said, “We welcome PREMIER Insurance to the conference and expo; they were the first business of its kind to become a sponsor last year. We are happy to have them back for a second year and hope that they will continue to support us in the years to come.”

The Conference and Expo completed its second edition under the theme ‘Harnessing Energy for Development’ from February 14–17, 2023, with over 1000 delegates attending the Conference and over 200 exhibitors to showcasing their companies at the Expo.