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ExxonMobil says remains committed to transparency

Sep 20, 2024 Letters

Dear Editor,

The Kaieteur News article titled “Takes credit for investments but recovering cost from Guyana’s oil” in its Friday 13, 2024 edition continues the publication’s unfortunate habit of twisting facts.

Our investment in training Guyanese workers is a vital part of developing local capacity in the oil-and-gas sector. These efforts directly benefit the local workforce, equipping thousands of Guyanese with the skills essential for their long-term benefit and for the country’s long-term economic growth, and they will enhance profits for Guyana and livelihoods for Guyanese. That’s a win-win.

The Local Content Secretariat recently announced that 6,500 Guyanese workers are currently employed in the oil-and-gas industry – and we’re committed to training even more Guyanese so that number continues to grow. Investing in the Guyanese workers needed to produce Guyana’s oil and gas is as important as investing in the facilities. Cost recovery of all investments is a standard practice in global energy projects. With their new skills and experience, more Guyanese gain the high-value, technical and leadership skills they need to succeed in this industry, and that’s going to translate into greater career opportunities and higher incomes for them.

It’s also important to note that as part of the Greater Guyana Initiative (GGI), ExxonMobil Guyana and its Stabroek block co-venturers have invested tens of billions of GY dollars in non-cost-recoverable education and training programs. The University of Guyana, the Centre for Local Business Development and Technical and Vocational Education and Training (TVET) programs across Guyana are all beneficiaries of our non-cost-recoverable GGI investments. ExxonMobil Guyana remains committed to transparency and to investing in the development of our Guyanese workforce.

Sincerely,

Alistair Routledge

President, ExxonMobil Guyana

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