President Dr. Irfaan Ali has lauded the commissioning of the US$ 300 million Vreed-en-Hoop Shore Base Inc. (VEHSI) as a significant step toward cementing Guyana’s position as a leader in the region’s marine industry. Speaking at the event on Saturday, President Ali highlighted the transformative impact of VEHSI on Region Three (Essequibo Islands-West Demerara) and shared his vision for the nation’s sustainable and diversified future.
A New Era for Guyana’s Marine Sector
President Ali described VEHSI as “one additional asset that allows us to build one of the best marine industries and marine sector in the region.” He emphasized its role in establishing a transport and logistics hub critical to unlocking new opportunities for the country.
The President stressed that Guyana’s transformation is not confined to the oil and gas sector but aims to create a “world-class, diversified and sustainable” economy. He reflected on the importance of keeping pace with global advancements, “If we remain static in our development and how we structure our development, we will be late movers, and we’ll pay the price.”
Unlocking Investments and Creating Opportunities
Dr. Ali contrasted his administration’s proactive approach with the stagnation experienced under the previous government, noting that investments exceeding US$150 million were stalled between 2015 and 2020. However, under his leadership, these investments were unlocked within 30 days.
He revealed that over the last four years, investments totaling more than US$700 million have been made along the Demerara River. The President celebrated the creation of over 400 construction jobs and 250 permanent positions, stating, “We’re celebrating the policies and the initiatives that would have enabled us as a country to bring back more than 80 percent of the semi-technical and low-level technical jobs that were held outside of our country here in Guyana.”
VEHSI: A Transformative Project
Phase One of VEHSI, located at Plantation Best on the West Coast Demerara, is the first shore base of its kind in Region Three. This state-of-the-art facility, developed by VEHSI—a joint venture between NRG Holdings Inc. and global maritime company Jan De Nul—has already created significant economic and employment opportunities.
The project has deepened the Demerara River channel, widened it from 50 to 100 meters, and extended its length to over 28 kilometers. These upgrades facilitate access for larger vessels, boosting the area’s maritime capabilities. Additionally, Plantation Best has benefited from new roads, bridges, and improved infrastructure, enhancing property values and raising the community’s profile.
The shore base will serve as a world-class Subsea Umbilicals, Flowlines, and Riser (SURF) facility for ExxonMobil Guyana Limited (EMGL), marking a milestone in Guyana’s offshore energy development.
Phase One of VEHSI, located at Plantation Best on the West Coast Demerara, is the first shore base of its kind in Region Three. This state-of-the-art facility, developed by VEHSI—a joint venture between NRG Holdings Inc. and global maritime company Jan De Nul—has already created significant economic and employment opportunities.
The project has deepened the Demerara River channel, widened it from 50 meters to 100 meters, and extended its length to over 28 kilometers. These upgrades facilitate access for larger vessels, boosting the area’s maritime capabilities. Additionally, Plantation Best has benefited from new roads, bridges, and improved infrastructure, enhancing property values and raising the community’s profile.
The shore base will serve as a world-class Subsea Umbilicals, Flowlines, and Riser (SURF) facility for ExxonMobil Guyana Limited (EMGL), marking a milestone in Guyana’s offshore energy development.
Human Capital and Tourism Development
President Ali underscored the importance of human capital in achieving economic goals, highlighting the need for a shift in mindset to support the growth of the tourism sector. He rejected opposition criticisms of the hospitality industry, stating, “We have to understand what this country’s requirements are moving forward.”
Responsible Development in Oil and Gas
Minister of Natural Resources Vickram Bharrat commended President Ali’s leadership and the Local Content Act (LCA) for prioritizing Guyanese in the oil and gas sector. He said VEHSI exemplifies the government’s commitment to making Guyana a regional oil and gas hub.
ExxonMobil Guyana President Alistair Routledge praised the project as a “visionary” initiative, emphasizing the long-term commitment required for such transformative investments. “Our industry has invested for decades. It’s not a short-term investment. It’s a long-term commitment,” he stated.
A Foundation for Growth
The commissioning of VEHSI marks a pivotal moment in Guyana’s journey toward becoming a global player in the marine and energy sectors. It reflects the nation’s ambitious vision and its dedication to fostering economic sustainability, job creation, and local development.