Latest update February 6th, 2025 7:27 AM
Fortune 500 company moves regional HQ to Guyana to give Guyanese jobs
Schlumberger Guyana’s current office at Middle Street, Georgetown (Photo: Delano Williams)
Kaieteur News – Fortune 500 corporation, Schlumberger, has decided to move its Guyana, Trinidad and the Caribbean (GTC) regional office to Guyana, according to Managing Director of Schlumberger GTC, Ernesto Cuadros. Schlumberger is a large oilfield services company.
Fortune 500, a yearly listing of the largest corporations of the United States by Fortune Magazine, most recently ranked Schlumberger at #382.
The company characterizes itself as the global leader in the provision of technology and services to the energy industry across the world, participating in this value chain in about 120 countries.
Schlumberger has been a partner of ExxonMobil Guyana for years. ExxonMobil Guyana has said that Schlumberger is its prime contractor for oil field services for both exploration and development activities in Guyana.
A report by the State newspaper states that Schlumberger employs over 85 Guyanese, accounting for 26 percent of its workforce, and that local participation is expected to increase in the coming months.
Schlumberger did not immediately respond to several questions posed regarding the decision to move to Guyana, other than providing confirmation.
The corporation’s decision to move its regional office to Guyana is yet another indication of Guyana’s rising position on the international stage, due to 18 world class commercial hydrocarbon discoveries made by ExxonMobil in the supergiant Stabroek oil block.
The discoveries, according to Hess Corporation, amount to nine billion oil-equivalent barrels and has catapulted Guyana onto the list of countries with the highest oil reserves per capita in the world.
From these discoveries, Guyana has already approved three developments which Schlumberger is sure to have benefitted from. The first is the producing Liza Phase One well. Liza Phase Two and Payara are projected for first oil in 2022 and 2024 respectively.
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