CGX Energy to start dredging, dock construction for port in Guyana -executive

CGX Energy

16/02/2022 23:39

By Sabrina Valle and Marianna Parraga
    GEORGETOWN, Guyana/HOUSTON, Feb 16 (Reuters) - Canada-based
oil company CGX Energy  OYL.V  will begin dredging and building
the docks of a key deepwater port at Barbice, in eastern Guyana,
planned to serve the South American nation's oil and agriculture
sectors, the firm's chairman said on Wednesday.    
    CGX Energy unit Grand Canal Industrial Estates in 2010
acquired a 50-year lease for a 55-acre parcel strategically
located near the Barbice River for the project. When complete,
it would become Guyana's third oil port and its only deepwater
facility.
    "The construction of docks and dredging will begin very
shortly," said CGX Energy Co-Chairman Suresh Narine. "The works
onshore are well advanced," he said, noting a skilled workforce
has been hired for building the port. 
    Contractors are being selected, a process to be followed by
construction of onshore buildings. "We are targeting the end of
2022 for the operation of the offshore supply base component of
the port," he said. 
    The port will mainly serve the oil and gas industry by
supplying equipment, fuel, cement, water and power. But it also
will have a portion dedicated to agricultural exports, whose
production is rapidly expanding in that region of Guyana, and
other areas for container ships, cruise ships and specialized
cargo.
    The facility, which could serve neighboring Suriname, also
plans to accommodate imports and exports of agricultural goods
transported from Brazil after a road connecting both nations is
completed.  urn:newsml:reuters.com:*:nL1N2TZ27V
    Besides the port project, CGX Energy and its parent company
Frontera Energy  FEC.TO  are drilling for oil in Guyana's
offshore Corentyne block, where they announced a discovery of
oil and gas resources yet to be measured.  urn:newsml:reuters.com:*:nL1N2UB34Z

 (Reporting by Sabrina Valle in Georgetown, Guyana, and Marianna
Parraga in Houston
Editing by Matthew Lewis)
 ((marianna.parraga@thomsonreuters.com; +1 713 371 7559; Reuters
Messaging: @mariannaparraga))