Guyanese should temper job creation expectations – ExxonMobil

ExxonMobil – the international conglomerate currently engaged in the exploration of oil in Guyana, is looking to ensure that local content accounts for as much as 95 per cent of its operation.
This was the assurance given on Tuesday when Country Manager Jeff Simons met with members of the media at the Cara Lodge to provide an update on the ExxonMobil operations.
According to Simons, there are currently 300 Guyanese in the employ of ExxonMobil and depending on how its operations proceed, this number could be increased.
Simons was also quick to caution that the operation of the rig is not labour intensive. He did seek to point out that wherever ExxonMobil has its operations, it seeks to ensure that local content is protected and maintained at a level between 75 per cent and 95 per cent. Simons told members of the media that while many of the technical people employed by ExxonMobil are foreigners, the company is looking to train more Guyanese.
There are currently no Guyanese employed on the drilling rig, according to Simon. The majority of the Guyanese employed by Exxon have been subcontracted.
According to Simons, ExxonMobil currently has 148 contracts with Guyanese providing a range of services, including security and transportation –accounting for the bulk of the 300 locals employed.
The use of local content in the ExxonMobil operations its “pretty high,” according to Simons, who went on to say that the company is still in the beginning phase of its operations and actual oil production at 100,000 barrels per day is not expected until 2020.
He announced too that the company is gearing to sink another exploration well in a matter of weeks and that the company is encouraged by the data it would have accumulated thus far from its previous wells.
The Liza-3 well, according to Simons, will be sunk further North from its other two wells in deeper waters at some 400 feet.
He reported too that the oil that has been recovered thus far is of a high quality and while nothing has been finalised as yet, the oil will be likely sold to Petrotrin in Trinidad and Tobago.
The company will be employing the services of a super tanker to transport the oil.
Simons said based on the data recovered thus far, ExxonMobil is confident that there is an extremely large reservoir of oil in addition to natural gas.
He suggested however that unlike the case in Trinidad and Tobago, the quantities of gas mixed in the oil does not warrant commercialising the operations. The gas, according to Simons, will at this stage be used to run the operations of the rig and that which it does not need will be returned to the reservoir.
This practice, he said would, ensure maximum production of oil from the well.
Tuesday’s engagement represented another of its outreaches with stakeholders and it was pointed out too that all of the data obtained by ExxonMobil is being shared with the Guyana Government and other bodies including the Environmental Protection Agency, the Guyana Geology and Mines Commission and Conservation International.
He also used the opportunity to report on a Production Sharing Agreement inked with Government which guarantees the recouping of its investments and to also secure a revenue stream for the Guyana Government on day one of production.
According to Simmons, from day one of commercial operations, Guyana will be receiving close to half of the revenues from profit.