Home News Persons leaving mining, other sectors for oil & gas at worrying rates...
The rate at which persons are leaving the mining sector, as well as other sectors for the oil and gas industry has been described as a source of worry by Natural Resources Minister Vickram Bharrat, particularly since he himself is the subject Minister responsible for both sectors.
During the recent steel strike ceremony for the ‘Jaguar’ Floating Production Storage and Offloading (FPSO) vessel, the Minister spoke of the expanding fleet of FPSOs in Guyana’s waters and the opportunities this will bring to locals, particularly when construction starts on more such vessels for production outside of the Stabroek Block.
“What is a bit worrying, though, for me especially and for our government, I heard one of the contractors mentioning the welders in the mining and agriculture sector coming and working in the oil and gas sector. That is good. That is good for the oil and gas sector, but it poses a problem for me because I overlook the mining sector too,” the Minister said.
“And we’re seeing that as being an issue indeed, where many people are now leaving other sectors to join the oil and gas sector, which we don’t have a problem with. Because as Guyanese that is your right. If you want to work in the oil and gas sector, we encourage it. We’re actually training people now, in collaboration with Exxon and SBM,” Bharrat added.
Training, he pointed out, is being done at the Guyana Technical College at Port Mourant, where 24 young Guyanese had graduated in the first batch in July of this year. Almost 6500 Guyanese currently work in the oil and gas sector, which Bharrat described as an achievement. He noted that this translates to 6500 trained Guyanese being gainfully employed in oil and gas.
“While we have the other issue we have to deal with, in terms of people moving from other sectors into the oil and gas sector, we’re going to deal with that. At the same time, we want our people to be gainfully employed. And there’s a perception and a certain amount of prestige, with working in the oil and gas sector.”
“So those Guyanese who are engaged and employed in the oil and gas sector, we congratulate them. We commend them. And those who are aspiring to work in the oil and gas sector, we trust that they’ll be afforded the opportunity at training and employment, in whichever field they may be endeavouring to go in.”
Guyana recorded a whopping 49.7 per cent increase in its gross domestic product (GDP) in the first six months of 2024, with the gold mining and quarrying sector expanding by 89.9 per cent in the first half of the year. Previously, Bharrat has said that when oil and gas reach peak production, there will still be more persons employed in mining.
The petroleum sector is currently led by United States US Oil major ExxonMobil, through its local subsidiary Esso Exploration Production Guyana Limited (EEPGL), which is the operator of the Stabroek Block where the oil is being produced and holds 45 per cent interest in the block.
Hess Guyana Exploration Ltd holds 30 per cent interest, and CNOOC Petroleum Guyana Limited, a wholly-owned subsidiary of CNOOC Limited, holds the remaining 25 per cent interest.
Three FPSO vessels- the Liza Destiny, Unity and Prosperity- are currently producing oil in Guyana’s waters, with a fourth one, the One Guyana FPSO, expected to start production in the second half of next year. The increase in FPSOs has also come with a heightened demand for support services and increasing employment opportunities.
As of April 2024, approximately 6000 locals were actively contributing to the oil and gas sector’s growth, which represented almost 70 per cent of the total workforce and a 24 per cent increase in Guyanese hired. Of the 6000 locals, over 900 Guyanese were employed as plant and machine operators; 1,203 as professionals, including accountants, lawyers, and engineers; and another 485 as technicians.
