Since the discovery of oil in 2015, ExxonMobil Guyana (EMGL) said it has significantly invested in the local economy, spending over GY$315 billion on local suppliers. This substantial expenditure it said, underscores its commitment to developing Guyana’s oil and gas sector while fostering local economic growth and supporting community development.
According to its 2023 Annual Report, in 2023 alone, EMGL and its contractors spent nearly GY$135 billion with Guyanese suppliers. This represents a significant portion of the total investment over the years, accounting for approximately 43% of the total GY$315 billion spent since 2015. This annual expenditure it said highlights ExxonMobil’s commitment to local procurement and the integral role of Guyanese vendors in supporting the company’s operations. The emphasis on local suppliers not only bolsters the regional economy but also ensures that the benefits of the oil and gas industry are broadly distributed within the local community.
Further to this, Exxon said today that more than 1,700 unique Guyanese vendors have benefitted from opportunities within its supply chain. This number illustrates the continuous progress in local supplier engagement and the expansive opportunities available as oil and gas operations grow in the region.
The sectors benefiting from these opportunities range from Cargo Management Services, Engineering and Machining, and Pipe Welding to Blasting and Coating. Additionally, emergent sectors like Warehousing, Civil Works and support services, Industrial Cleaning, and Janitorial services are also experiencing growth and investment.
While oil and gas projects are known for being capital intensive rather than labor intensive, ExxonMobil said it places significant importance on workforce development. This strategic focus it said includes providing on-the-job training opportunities for employees and contractors, which helps in building a skilled local workforce. The broader workforce development initiatives support the industry and adjacent sectors through STEM education, technical training, and professional education programmes.
By the end of 2023, over 6,200 Guyanese workers were supporting the activities of EMGL and its contractors. Guyanese workers represented nearly two-thirds of the overall workforce involved in oil and gas activities in the country. This statistic, the company said—reflects its dedication to ensuring that local talent plays a key role in the industry, contributing to the sustainable development of Guyana’s oil and gas sector.
In addition, women now comprise approximately 52% of Exxon’s local workforce, reflecting ongoing efforts to promote gender diversity in a traditionally male-dominated industry.
