Oil giant, ExxonMobil Guyana and its partners, including contractors, injected more than $80 billion into the local economy last year, according to ExxonMobil.
In a statement, the oil giant said more than 1,500 Guyanese businesses have reaped the benefits.
The $80 Billion in investment forms part of the more than $180B or US$900M spent with locals since the first discovery in 2015.
According to ExxonMobil, the number of Guyanese working in the Oil and Gas Industry now surpasses 5,000.
“By the end of 2022, the company and contractors had employed over 5,000 Guyanese workers, representing more than 65 percent of the overall workforce in the local oil and gas industry. Notably, the numbers of Guyanese working offshore continued to grow. Among the 2,700 personnel committed to supporting ExxonMobil Guyana’s operations, over 1,300 were Guyanese, constituting approximately 48 percent of the offshore workforce,” the oil giant said.
Exxon also said the numbers will continue to increase as more projects come on-stream, thereby providing opportunities for businesses and individuals alike.
“We believe that the true measure of our success lies not only in the barrels produced but also in the positive impact we create for our people and the communities in which we operate. By prioritising local talent, partnerships, and investments, we aim to cultivate a thriving and sustainable environment that benefits everyone,” ExxonMobil Guyana, Alistair Routledge said.
On Monday, the Ministry of Natural Resources approved Exxon’s 2023 Local Content Annual Plan and its Certificate of Compliance for 2022.
The 2023 Plan describes how the company intends to execute projects and implement systems to promote the development of local content this year.
ExxonMobil Guyana’s evolving strategic plan for operational growth includes balancing meeting the needs of the business while developing Guyanese content in a phased approach.
It is assessed annually to ensure objectives are met in a sustainable and systematic manner.