Inspenet, July 4, 2023.
The possibility of establishing a modular oil refinery is still being considered. This was confirmed last Thursday by the Vice President of Guyana, Dr. Bharrat Jagdeo. As revealed by the official, four prominent contenders have been shortlisted for this project.
During a press conference, the official in charge of oil sector policies announced that the Ministry of Natural Resources has formed a team to evaluate all proposals received and prepare a detailed report.
“There were about eleven and these narrowed down to four that met all of the parameters that we requested in the Request for Proposal (RFP). That now needs to move to the next stage, which is to rank them and then start discussions with the number one ranked company and see if we can come to an agreement,” the VP shared.
Guyana’s vice president remains secretive
So far, Bharrat Jagdeo has not revealed the names of the shortlisted companies or their place of origin.
The government’s Request for Proposals (RFP) established the need for a qualified company to design, finance and build a modular refinery at the mouth of the Berbice River near “Crab Island”. Construction was expected to begin in the first quarter of 2023, with completion of the project within a maximum period of two years from its inception.
In addition to providing approximately 30 acres of land, the government has announced generous tax incentives for the project, such as a 10-year tax holiday, supply of feedstock (oil) from the Guyana government’s share of oil revenues at prices of market and access to the internal market for the sale of refined products .
The RFP made it clear that the government would not have any ownership or investment stake in the project. For its part, the government declared that the refinery will be built exclusively for reasons of national security.
Source: https://oilnow.gy/featured/guyana-selects-four-contenders-for-first-oil-refinery/
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