Latest update April 18th, 2024 12:59 AM
Feb 11, 2018 News
-Businessman extends invitation for all Guyanese to get on board
By: Kiana Wilburg
The exploitation of oil and gas resources by USA oil king, ExxonMobil, will summon the need for various types of management services, systems and skills.
Hoping to bring to life a project that encapsulates the aforementioned, while putting Guyanese first, is Mr. Terry Singh, Chief Executive Officer (CEO) of Source One Supply, a subsidiary of JAPARTS.
This forward thinking entrepreneur is desirous of joining with principally local forces to develop a shore base initiative which would be able to service the needs of ExxonMobil during the first stage of the Liza One project and beyond, as well as any other Oil Company.
Singh went into great detail Friday afternoon regarding Source One Supply’s vision for the project which can see an investment more than US$120M.
ADAPTING TO OIL AND GAS
Singh is no newbie to the extractive sector. His parent company, JAPARTS, has been providing impeccable service to the industry for the last 35 years. He noted that it’s a Guyanese grown business which is a valid testimony of the confidence placed in Guyana and its potential for growth. The entrepreneur shared that Source One Supplies was formed as a response to the oil and gas sector.
The Guyanese businessman told Kaieteur News, “We have a lot of confidence in the country and have made investments in that regard. My dad was a miner and I am as well. We are contributors to the gold production of the country and we have a variety of businesses.
“We are into mining; we sell heavy duty equipment, and we provide spares and services to the extractive sector. But when it comes to oil and gas, this is an area that is new to everyone but we have to adapt. As such, we have sourced the equipment that is necessary for the sector and we have them available for those who are in need.”
Singh noted that the shore base plan, which is also representative of a Guyanese-led initiative, will be called G-Port. The proposed location is Plantation Vreed-en-Hoop, south of the ferry stelling. The scale and magnitude of G-Port will be on an entirely new level; a superior provider of services and state of the art onshore oil and gas Facility that will put direct employment and capital injection into the economy.
With such a massive investment and the involvement of international parts, Singh commented that it will not only create employment but also enhance the technical knowledge of our local workforce.
PROPOSED SERVICES
Singh shared that G-Port would be able to cater to the needs for the different phases of Exxon’s oil drilling. The project envisions providing a wide range of services which include fresh water supply, fuel storage capacity, waste management services, a factory, a beverage warehouse, pipe yard and recertification services etc. Ultimately, Singh said that it is his intention to provide as much local content as possible.
The entrepreneur noted, that it would cost approximately US$90M to US$120M to establish the structure with the exception of four specialized commodities. He said that the US$120M budget caters for the setting up of the pier, warehousing amenities, the welding and fabrication department, the administrative building, housing and accommodation for workers, and a grand training centre.
He noted that the four specialized facilities he foresees having at the port include the fuel storage farm, the fresh water treatment plant, the mud plant and the purification oil distribution centre. The businessman noted that he is also seeking the intervention of the Government so that they can be able to operate another shore base facility in the Essequibo region.
PRESENCE OF GOVT. BODIES
With the government’s blessings, Source One Supply hopes to have the presence of various bodies at G-Port. He said these include but are not limited to the Guyana Police Force, the Central Immigration and Passport Office, Guyana Maritime Administration and the Customs Anti-Narcotics Unit (CANU).
The CEO said, “For Source One Supply, once we get the blessings of the government to start this project, we can commence in about two to three months and finish in about 26 to 30 months. I want the citizenry to understand that G-Port is not just one local Guyanese being involved. I want to incorporate or form a consortium of ‘Guyanese’ businesses; I want Guyanese to play a part in setting it up.”
“It must be an area for not just handling of certain goods or providing certain services, but to have government bodies involved such as the Maritime Patrol, Customs, immigration, border patrol and even a quick response centre so as to satisfy the demands and requirements of the sector.
“We want an area so well designed that if someone is on a vessel that is coming in for certain services, the individuals if they so desire, can take some time to see the city and immigration services are there to make this all possible. It can be a proper port of entry as well.”
He added, “Another point I want to note is that the facility will be built to the strictest international standards required for oil and gas. They will meet the building and environmental codes etc. And I am pleased to note that Government officials are aware of this initiative, more particularly the sub-committee on Natural Resources along with certain relevant bodies like the Guyana Office for Investment…”
The businessman stated, “The world will not wait on us. Hence, as Guyanese we must take our place in ensuring greater local investment and market share. This initiative is to ensure that from the outset we gain competitive advantage, local participation and content.”
KEEPING IT LOCAL
Singh noted that the project is one which would provide a space for many Guyanese in the services sector to benefit from. He noted for example that producers of goods such as piping or steel would be able to sell same to G-Port where it would be packaged and handled in a safe manner. Singh also stated that there would be RFID tracking system in place. RFID tagging is an ID system that uses small radio frequency identification devices for identification and tracking purposes.
An RFID tagging system includes the tag itself, a read/write device, and a host system application for data collection, processing, and transmission.
The businessman is passionate about the project as he believes it is one way to increase the nation’s chances of being able to ensure local content actually works for the people. Singh noted that the project start up will create employment for 300 to 400 employees. The project has also attracted the attention of a Dutch company which has experience in the area of port facilities.
Singh stated without a doubt that his initiative “would be at the heart of local content.”
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Very ambitious and may be necessary…. especially keeping it local.