By Samuel Sukhnandan
MODEC Inc., a renowned global leader specializing in constructing and operating floating solutions for the offshore oil and gas industry, has set up operations in Guyana.
Speaking exclusively to NCN News, the company’s Country Manager, Rafael Fumis, sheds light on their operations and future endeavors.
MODEC Inc. secured a significant contract in 2022 to build the fifth Floating Production, Storage, and Offloading vessel (FPSO) for Guyana.
Named ‘Errea Wittu,’ this FPSO is poised to support ExxonMobil’s Uaru development project, a vital undertaking for the expansion of the oil and gas sector in the region.
Fumis emphasizes that not only will MODEC Inc. construct this new FPSO, but they will also oversee its installation in Guyana.
When queried about how MODEC Inc. plans to contribute to the Guyanese economy through its offshore operations, Fumis outlines their commitment to fostering local economic growth.
Additionally, Fumis underscores the significant opportunities for skill development and knowledge transfer that will accompany MODEC Inc.’s presence in Guyana.
Furthermore, Fumis reveals that the FPSO being constructed by MODEC Inc. will play a pivotal role in ExxonMobil’s ambitious plan to increase Guyana’s oil production to 1.2 million barrels per day by 2027.
This collaboration underscores the strategic importance of MODEC Inc.’s operations in contributing to the energy landscape of Guyana and the wider region.
With MODEC Inc.’s entry into the Guyanese market, the country can expect a surge in job opportunities and economic development, driven by the company’s commitment to local hiring and capacity building.
As Guyana continues to establish itself as a key player in the global oil and gas industry, partnerships with industry leaders like MODEC Inc. are poised to accelerate the nation’s growth trajectory.