In a significant move to bolster its support for Guyana’s offshore oil and gas activities, JOP Property Holdings Inc., a prominent Guyanese company, has unveiled plans to construct a state-of-the-art wharf facility. According to the project summary submitted to the Environmental Protection Agency (EPA), this US$25M wharf is set to be an extension of the existing Land of Canaan facility, which has been playing a crucial role in providing a home for the onshore operations of Baker Hughes, one of the world’s largest oil field services companies.
Under the leadership of Executive Director, Mr. Yodhia Persaud, JOP Property Holdings Inc. has been actively involved in facilitating Guyana’s offshore operations. One of its most recent and notable investments includes the development of the Land of Canaan facility, currently rented to Baker Hughes for its Supercenter operation. The multimodal Supercenter, covering almost 100,000 square feet and located approximately 14 miles south of Guyana’s Capital Georgetown, has been an instrumental component in providing essential support to customers in Guyana and Suriname.
With the successful establishment of the Supercenter, JOP Property Holdings Inc. is now ready to take its commitment to the next level. By constructing the wharf at the Land of Canaan facility, strategically situated next to the Demerara River, the company aims to streamline offshore operations by enabling river access. This move will eliminate the reliance on road transportation, ensuring safer, cleaner, and more efficient operations, and mitigating the risks associated with road transportation.
The wharf project is set to be an extensive undertaking, with plans calling for a 20-meter wide wharf, featuring a 10-meter wide ramp, stretching an impressive 240 meters long. Occupying approximately 7,200 square meters, this ambitious endeavor is well underway, having received all necessary clearances, including a No Objection from the Neighbourhood Democratic Council. However, the company is diligently seeking approval from the Environmental Protection Agency (EPA) to obtain the required Environmental Authorisations/Permits before commencing construction activities.
Not only will this development significantly boost offshore operations and facilitate smoother product and supply transitions, but it will also create employment opportunities. During the land preparation and construction phases, the project is expected to directly employ at least 50 individuals. As the wharf begins operation, this number is anticipated to increase further, although the exact figure is yet to be disclosed.
The capital investment for this groundbreaking project is projected to exceed USD 25,000,000, a testament to JOP Property Holdings Inc.’s unwavering dedication to enhancing Guyana’s offshore capabilities. The funds for this venture will be sourced directly from the company’s accounts and loans from commercial banks. Although the annual turnovers are not currently available, the company is actively pursuing partnerships with interested investors, signaling a promising future for this ambitious undertaking.
With the new wharf facility on the horizon, JOP Property Holdings Inc. is clearly solidifying its position as a vital contributor to Guyana’s offshore oil and gas sector, promising increased efficiency and further advancements in the region’s energy landscape.