Ocean Edge Services & Atlantic Marine Enter into Agreement in Guyana

Source: www.gulfoilandgas.com 8/19/2021, Location: South America

Ocean Edge Services, Inc. (OES) is pleased to announce an agreement with Atlantic Marine Supplies, Inc. (AMS), for the servicing of offshore oil production needs in Guyana. The agreement was finalized in Houston, Texas, during the week of the annual Offshore Technology Conference, held at NRG Park and attended by a delegation of over 70 officials and private sector representatives from Guyana. This year, Guyana had its own display area in the vast NRG exhibit hall, and the Vice President of Guyana, Dr. Bharrat Jagdeo, spoke at the conference delivering a presentation titled, “Guyana: An Emerging Oil Industry in the Context of Net Zero Emission.” Atlantic Marine Supplies CEO Vincent Thakur traveled to Houston for the conference.

AMS was founded in 2010 when exploration off Guyana began again after a long hiatus, and they have been a trusted local supplier through ExxonMobil’s discovery of the Stabroek Block, the official first draw there in December 2019 from the Liza-1 well, and continuing discoveries and the start of commercial quantity production.

As a premiere supplier of hydraulic products and services, Ocean Edge Services will work with AMS to support the needs of existing and new subsea operations in Guyana.

Last June, ExxonMobil announced a new Guyana offshore discovery at Longtail-3, signaling the 20th find from the Stabroek Block since 2015. A neighbor to oil-rich countries like Brazil and Venezuela, Guyana is an emergent energy nation. The Longtail-3 find adds to the current projections of over 9 billion barrels of oil equivalent reserves discovered off the Guyanese coast. ExxonMobil has said the potential may exist for it to eventually install as many as 10 FPSOs in the Stabroek Block.

“There are six drillships active right now in the Stabroek Block, and crude oil exports in quantity are leaving Guyana for the first time to markets like the Netherlands and China,” said Ocean Edge Services COO Raouf Hadad. “The startup of Liza Phase 2 production is targeted to begin just months from now in early 2022. The development of these reserves is important not only for world markets, but for the economy and prosperity of Guyana and the Guyanese people. Ocean Edge Services is excited to work with CEO Vincent Thakur and Atlantic Marine Supplies to provide our expertise, experience, service offerings, and products in support of this oil production growth sector.”

Guyana’s Vice President, Dr. Bharrat Jagdeo, speaking of the opportunities in the the oil and gas sector in Guyana, said, “This is a huge, huge thing for us in a country that has a fledgling private sector,” and he encouraged potential investors and operators in the global energy markets to work closely with the local private sector. “This has to be about the shared prosperity...it has to be the oil and gas investors making a decent profit and return on your investment, but the prosperity has to be shared with the people of Guyana,” he said.

Among others, the Guyana contingent in Houston for the Offshore Technology Conference included Vice President Dr. Bharrat Jagdeo; Minister of Foreign Affairs and International Cooperation, Hugh Todd, M.P.; Minister of Natural Resources, Vickram Bharrat, M.P.; Minister within the Ministry of Public Works, Deodat Indar, M.P.; and Chief Investment Officer and CEO of GO-Invest, Dr. Peter Ramsaroop, along with representatives from AmCham, GCCI, PSC, GM&SA and private businesses GUYSONS-GKB, GAICO, Mid-Atlantic Oil & Gas, GOGEC, GYSBI, GTT, Atlantic Marine Supplies, ExxonMobil Guyana and Halliburton.

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