Over the past six years, Guyanese businesses have built their place in the country’s oil and gas industry, supplying offshore operations with everything from logistics and fabrication to catering and waste management services.
But ExxonMobil Guyana’s proposed Haimara development suggests the next wave of opportunities for locals could be even bigger. The project, outlined in a summary recently published by the Environmental Protection Agency (EPA), would be the ninth development in the Stabroek Block if approved. It is designed to develop the Haimara, Bluefin and Hatchetfish natural gas fields and is expected to begin production in 2031.
According to the project summary, Haimara could produce between 1 billion and 1.5 billion standard cubic feet of natural gas per day while separating between 160,000 and 220,000 barrels of condensate daily. Condensate is a light, liquid form of hydrocarbon. It assumes this form when natural gas cools or loses pressure as it comes to the surface.
Extracting the resources for the Haimara project would involve a floating production, storage and offloading (FPSO) vessel, subsea infrastructure and as many as 60 wells. Most importantly, the project could support Guyana’s ambition to be a gas exporter.
The government has already outlined its plans for growing a domestic gas industry, which will see the creation of factories, processing facilities, power generation projects, data centres and other industries that can generate long-term economic activity onshore.
For Guyanese businesses, that means opportunities that extend beyond supporting offshore operations. New industrial projects require construction, maintenance, transportation, security, information technology services, engineering support, environmental services, accommodation, food supply and countless other goods and services.
With the Haimara project set to be Guyana’s biggest gas project, the opportunities to come could be even more transformative.