Beautiful Virgin Islands

Monday, Sep 01, 2025

Oil companies to spend US$100M in Guyana to build capacity

Oil companies to spend US$100M in Guyana to build capacity

Over the next 10 years, the consortium of oil companies operating offshore in Guyana’s Stabroek Block will spend at least GYD$20 billion (US$100 million) to build capacity and spur economic development in the country. ExxonMobil, Hess and CNOOC Limited unveiled their Greater Guyana Initiative today.
In a statement, ExxonMobil said The Greater Guyana Initiative’s capacity development efforts will include programs designed in consultation with Guyana’s Technical and Vocational Education and Training Centre, the Centre for Local Business Development and the University of Guyana.

“Our long-term commitment will support initiatives to further build human capacity, advance education, improve health care and promote sustained economic diversification,” said Alistair Routledge, president ExxonMobil Guyana.

“This work will boost our shared capacity development efforts in Guyana, preparing Guyanese to capitalize on new and expanded economic opportunities.”

Tim Chisholm, vice president - Guyana & Suriname for Hess Corporation- said: “We are committed to supporting the long-term sustainable growth and prosperity of Guyana that is shared across the whole of society.”

“Guyana's future has never looked brighter, and we believe that the Greater Guyana Initiative will play an important role in making that promise a reality.”

Xia Qinglong, executive vice president of CNOOC Limited and chairman of CNOOC International, said: “The launching of the Greater Guyana Initiative marks a milestone in delivering benefits from the hydrocarbon / offshore economy directly to the Guyanese people.”

“Through this collaborative, sustainable and mutually-reinforcing initiative, communities across Guyana would actualize tangible benefits.”

Exxon said the project will expand the consortium’s support for the Centre for Local Business Development and facilitate its transition into a long-term centre of excellence for the broader industry. More than 2,400 Guyanese companies are registered with the centre, which was established by ExxonMobil, Hess and CNOOC Limited in 2017.

“We’re advancing our partnership with ExxonMobil, Hess and CNOOC Limited through the Greater Guyana Initiative,” said Clinton Williams, chairman of the Technical and Vocational Education and Training Council.

“Our year-long collaboration and planning ensures a comprehensive program of targeted education for youth in the areas of mechanical, electrical and welding as well as tailored training for instructors that is suited for the long-term development needs of Guyana.”

The Stabroek Block co-venturers will evaluate and select more capacity-building projects to be included in the initiative.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Chinese and Indian Leaders Pursue Amity Amid Global Shifts
European Union Plans for Ukraine Deployment
ECB Warns Against Inflation Complacency
Concerns Over North Cyprus Casino Development
Shipping Companies Look Beyond Chinese Finance
Rural Exodus Fueling European Wildfires
China Hosts Major Security Meeting
Chinese Police Successfully Recover Family's Savings from Livestream Purchases
Germany Marks a Decade Since Migrant Wave with Divisions, Success Stories, and Political Shifts
Liverpool Defeat Arsenal 1–0 with Szoboszlai Free-Kick to Stay Top of Premier League
Prince Harry and King Charles to Meet in First Reunion After 20 Months
Chinese Stock Market Rally Fueled by Domestic Investors
Israeli Airstrike in Yemen Kills Houthi Prime Minister
Ukrainian Nationalist Politician Andriy Parubiy Assassinated in Lviv
Corporate America Cuts Middle Management as Bosses Take On Triple the Workload
Parents Sue OpenAI After Teen’s Death, Alleging ChatGPT Encouraged Suicide
Amazon Faces Lawsuit Over 'Buy' Label on Digital Streaming Content
Federal Reserve Independence Questioned Amid Trump’s Push to Reshape Central Bank
British Politics Faces Tumultuous Autumn After Summer of Rebellions and Rising Farage Momentum
US Appeals Court Rules Against Most Trump-Era Tariffs
UK Sought Broad Access to Apple Users’ Data, Court Filing Reveals
UK Bank Shares Dive Over Potential Tax on Sector
Germany’s Auto Industry Sheds 51,500 Jobs in First Half of 2025 Amid Deepening Crisis
Bruce Willis Relocated Due to Advanced Dementia
French and Korean Nuclear Majors Clash As EU Launches Foreign Subsidy Probe
EU Stands Firm on Digital Rules as Trump Warns of Retaliation
Getting Ready for the 3rd Time in Its History, Germany Approves Voluntary Military Service for Teenagers
Argentine President Javier Milei Evacuated After Stones Thrown During Campaign Event
Denmark Confronts U.S. Diplomat Over Covert Trump-Linked Influence in Greenland
Starmer Should Back Away from ECHR, Says Jack Straw
Trump Demands RICO Charges Against George Soros and Son for Funding Violent Protests
Taylor Swift Announces Engagement to NFL Star Travis Kelce
France May Need IMF Bailout, Warns Finance Minister
Chinese AI Chipmaker Cambricon Posts Record Profit as Beijing Pushes Pivot from Nvidia
After the Shock of Defeat, Iranians Yearn for Change
Ukraine Finally Allows Young Men Aged Eighteen to Twenty-Two to Leave the Country
The Porn Remains, Privacy Disappears: How Britain Broke the Internet in Ten Days
YouTube Altered Content by Artificial Intelligence – Without Permission
Welcome to The Definition of Insanity: Germany Edition
Just a reminder, this is Michael Jackson's daughter, Paris.
Spotify’s Strange Move: The Feature Nobody Asked For – Returns
Manhunt in Australia: Armed Anti-Government Suspect Kills Police Officers Sent to Arrest Him
China Launches World’s Most Powerful Neutrino Detector
How Beijing-Linked Networks Shape Elections in New York City
Ukrainian Refugee Iryna Zarutska Fled War To US, Stabbed To Death
Elon Musk Sues Apple and OpenAI Over Alleged App Store Monopoly
2 Australian Police Shot Dead In Encounter In Rural Victoria State
Vietnam Evacuates Hundreds of Thousands as Typhoon Kajiki Strikes; China’s Sanya Shuts Down
UK Government Delays Decision on China’s Proposed London Embassy Amid Concerns Over Redacted Plans
A 150-Year Tradition to Be Abolished? Uproar Over the Popular Central Park Attraction
×