Georgetown : President Bharrat Jagdeo met with a team from a United States based Petroleum Company, Prime Energy LLC- Caribbean who are looking to establish the first Oil Refinery in Guyana.
Among those at the close door meeting yesterday were President of Prime Energy Jerry Brooks, company representative Vijay Doerga and members of the company’s board.
The company is pursuing the venture in partnership with Kuai Energy Systems and Chemexllc and has its intention to recruit 100 Guyanese to work with the company when it becomes a reality.
Doerga gave the assurance that “tonnes of jobs,” will be awaiting Guyanese after the establishment of the project which the company predicts will be subject to much cost and complication.
Foundation work is scheduled to commence in another six months with a period of 18 months timetabled for the project to come on stream with an investment scale of US$75M.
Brooks explained that the refinery is a modular mini refinery with a capacity to hold 20,000 barrels daily.
Manufacturing of major elements on the refiners will be done in the USA and then shipped to Guyana for installation. Brooks said that this approach will be taken to avert any factor that may stymie the project completion duration such as inclement weather.
He further explained that the interest to establish a refinery in Guyana was stimulated by the fact that several countries around the world are looking to 20,000 barrels a day refineries for their countries given the high cost incurred to transport crude oil to the US for refining.
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