GEORGETOWN, Guyana (CMC) — The Government of Guyana says it welcomes the commitment by the United States (US) based oil companies, ExxonMobil and Chevron, to partner with Guyana in its development programme.

Representatives of the two companies, speaking at the fifth edition of the Guyana Energy Conference and Supply Chain Expo, affirmed their support for the responsible harnessing of Guyana’s oil and gas resources for the benefit of current and future generations.

President of ExxonMobil Guyana, Alistair Routledge, underscored the company’s commitment to advancing local content, saying the company has spent US$3.6 billion to date on the employment of Guyanese as well as the procurement of services from local businesses.

In a statement, the Ministry of Natural Resources said that it also acknowledges remarks by Chevron’s Chief Executive Officer, Mike Wirth, affirming the company’s commitment to partnering with Guyana in its continued development.

“The ministry, therefore, looks forward to strengthening this relationship as project development progresses in the Stabroek Block of which Chevron is a 30 per cent shareholder.”

Natural Resources Minister, Vickram Bharrat, said that from 2020 to 2025, Guyana was able to increase oil production from 120,000 bpd to over 900,000 bpd.

“This momentum is expected to deliver more benefits for Guyana in the coming years, cementing our country’s global positioning as a premier producer of low-cost, low-emission resources,” Bharrat said,  adding that in tandem with this pace of production, Guyana retains respect on the global stage for a well managed oil and gas sector that is supported by robust laws governing local content, revenue expenditure and environmental sustainability.

“As the four-day conference comes to an end, the ministry underscores its commitment to working collaboratively with all stakeholders to ensure the country’s natural resources deliver inclusive and sustainable benefits for its people and the wider region,” the statement said.