GUYANA-DEVELOPMENT-Guyana first artificial island to become operational this year

GEORGETOWN, Guyana, Guyana’s first artificial island, which is part of the reclaimed land that will be transformed into the estimated 44-acre mega-project to create the shore base facility, is being made in the Demerara River.

“The project managers have warned that the site remains an active construction zone and landing on the island is prohibited. While visible, the island structure is not yet fully stable. Therefore, the team is urging all to remain clear of the construction zone and adhere to the previously issued notices,” said the company behind the project, Vreed-en-Hoop Shore Base Inc (VESHI).

It said phase one of the project is meant to be the particular purpose vehicle to serve as a SURF (Subsea Umbilicals, Riser and Flowlines) Shorebase for Esso Exploration and Production Guyana Limited (EEPGL) projects.

“The project is currently in the sandy reclamation phase. During this phase, the dredger, M.V Galileo Galilei, will continue adding reclaimed material to create the artificial island on which the construction of the new terminal will be situated.”

Vreed-en-Hoop Shorebase Inc. is a joint venture between NRG Holdings Inc.—a 100 percent Guyanese-owned consortium that is the majority shareholder –and Jan De Nul, an international maritime infrastructure company headquartered in Luxembourg.

It said the project started the first step in June, which entailed dredging the access channel in the Demerara River, including the deepening/widening of the existing nautical channel, berth pockets, and turning basin.

“The project managers have hailed this phase a success, and the upgraded channel has been handed over to the Maritime Administration Department (MARAD)

VELSHI is currently the most significant Guyanese private sector investment in the oil and gas sector and is expected to cost over US$300 million.

According to the project directors, the support and encouragement given by the government of Guyana have been reassuring and augur well for additional investment and the future of Guyana. The project is expected to become operational in 2023.