NSB Energy will proudly be joining other local companies on a business mission to Georgetown, Guyana in September. The mission to the South American country is being organized by NOIA, in partnership with the federal and provincial governments, and will include business to business meetings between Newfoundland and Labrador companies and those active in the Guyana oil and gas market.
“We are very pleased to be joining the impressive list of Newfoundland and Labrador companies travelling to Guyana seeking new business opportunities,” said Mike Critch, President and CEO of NSB Energy. “Over the past 25 years, NSB Energy employees have been instrumental in delivering major oil and gas projects locally, nationally and internationally and we look forward to exploring opportunities to share this expertise with companies in the region.”
ExxonMobil and their partners, Hess and Nexen CNOOC have recently sanctioned the development of the Liza 1 field, offshore Guyana. This $4.4B USD development will include an FPSO coupled with significant subsea infrastructure. The first phase of development, which is expected onstream by 2020, is expected to produce 100,000 barrels per day. The Liza field holds an estimated 2-2.5 billion oil-equivalent barrels.
“Market expansion is a key pillar of NSB Energy’s growth strategy,” says Rob McGrath, Vice President – Business Development. “The emerging Guyana oil and gas industry represents a significant opportunity to export NSB Energy’s expertise.” Meetings with local companies are currently being finalized. “We’re very encouraged with the level of interest,” notes McGrath. “We believe that NSB Energy has a lot to offer to the emerging Guyana industry and we look forward to beginning discussions with companies operating in the region.”
The mission to Guyana runs from September 11-15, 2017.