Oil companies play up role of $20b fund

Attendees during the opening address at the GGI Stakeholder Forum
Attendees during the opening address at the GGI Stakeholder Forum

The Greater Guyana Initiative (GGI) on Tuesday hosted a stakeholder forum at the Guyana Marriott Hotel, Georgetown to reflect and discuss the impact of the US$100 million ($20 billion) invested in the Initiative by the Stabroek Block co-venturers, and explore opportunities for collaboration and networking in their respective sectors.

This was announced in a GGI release which also informed that the event, which brought together beneficiaries from all ten administrative regions of Guyana, focussed on the topics, “Digital Transformation” and “Women Empowerment and Entrepreneurship”

During the forum, participants engaged in panel discussions sharing their perspectives on Guyana’s digital transformation and the critical role women play in the country’s sustainable development as it relates to empowerment and entrepreneurship. Stakeholders also had the opportunity to ask questions and contribute to the dialogue on these essential topics.

The Greater Guyana Initiative is supported by the Stabroek Block co-venturers—ExxonMobil Guyana Limited, Hess Guyana Exploration Limited, and CNOOC Petroleum Guyana Limited. The initiative supports capacity-building programs across Guyana over a ten-year period, focusing on education and training, economic development, and healthcare. GGI aims to strengthen the local workforce, enhance the competitiveness of Guyanese businesses, and lay the foundation for sustained economic growth.

Minister of Health, Dr Frank Anthony, who delivered the keynote address, underscored GGI’s significance in driving Guyana’s growth across multiple sectors, particularly health. He emphasised the importance of partnerships and initiatives that foster innovation and development throughout the country.

“In partnership with the investment that the government is making, this is helping us to roll out some of these programmes faster, in some cases, filling the gaps that we have. Ultimately what these investments are doing is helping us to make a more resilient Guyana,” the minister remarked, as he encouraged stakeholders to continue supporting Guyana’s transformative journey.

President of ExxonMobil Guyana Limited, Alistair Routledge, also one of the speakers at the event, highlighted the role the co-venturers play in positively impacting the lives of Guyanese through initiatives like GGI.

 “We want to make a positive impact with the people that work for us and the communities in which we operate, in the countries in which we have been given the opportunity to come and develop those country’s natural resources.”

Meanwhile, Socioeconomic Manager at ExxonMobil Guyana Limited, Susan Scott, emphasised the importance of collaboration and capacity-building as Guyana continues along its development trajectory.

“Guyana is undergoing a transformational period of development, and it requires a collective effort to position the country as a leader on the global stage. We are fully aligned with the Government’s broader vision, and we are committed to playing our part by equipping Guyana’s workforce with the skills and knowledge needed to thrive across various sectors.”

Senior Manager of Government Relations at CNOOC Petroleum Guyana Limited, Bayney Karran, reiterated the importance of diverse growth and development, noting the GGI’s efforts to foster growth outside the energy industry.

“By balancing institution building with project implementation in priority areas such as agriculture, health care, business development and education and training, the GGI has fostered community building beyond the oil and gas sector.”

And underscoring the importance of making businesses a force for good in the communities in which they operate, was Senior Vice President of Hess Corporation, Alex Mistri.

“We’re privileged to be a partner in this effort for Guyana, a country that has been blessed with so many endowments, but the most important being your people.  And GGI, I commit to you, will continue to invest in opportunities for the citizens of this country.”