QUARTERLY Magazine 19-07-2021

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QUARTERLY SECOND EDITION

JULY 2021

MAGAZINE

‘hotspot’

Budding investment

--$1B mall, gas-to-shore pipeline, road from Schoonord-Parika, for Region Three

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Secretary of the Association of Women Entrepreneurs, Latoya Khemraj

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05 An arm of strength for women in business

Recovery underway as authorities move to repair flood-damaged infrastructure by year end

GTT aiming for 10,000 new ‘Blaze’ customers by year end 06 PAGE

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GUYANA CHRONICLE QUARTERLY Tuesday, July 20, 2021

More deaths, hospitalisations linked to COVID-19 variants

GUYANA surpassed 500 COVID-19 deaths on July 14, 2021. It was nothing short of a grim milestone, worsened by the fact that 300 of those deaths occurred between March and July 2021.

This evident surge in the number of deaths was accompanied by a similar surge in the number of people becoming infected and the number of people who were hospitalised after they faced the more severe or life-threatening symptoms of the disease, COVID-19.

Even with the country being engaged in a robust vaccination rollout during the same time the surges began, the Minister of Health, Dr. Frank Anthony, in a recent update, opined that the emergence of variants of concern could be the causative factor.

--says Health Minister as he rallies for vaccination

genetic analysis, to identify whether a variant is present in the country.

Guyana does not have the in-country capacity to engage in this sequencing and instead, sent 10 COVID-19 samples to the Caribbean Public Health Agency (CARPHA), in Trinidad, for testing in February.

Even without adequate genomic sequencing, the Health Minister said that the local health authorities are assuming that variants are circulating in Guyana and as such, that the population is exposed to more infectious forms of the disease-causing virus.

“Right now, while the

coming infected, but would prevent an individual from developing the more serious or life-threatening symptoms thereby preventing hospitalisation and deaths.

“All the persons who would’ve passed away were not fully vaccinated so we don’t have anyone who has been fully

Frank: Minister of Health, Dr. Frank Anthony

“From a clinical perspective, we suspect this is what is happening,” he said when asked if the local authorities can definitively conclude that the emergence of these variants of the virus contributed to the exponential increase in infections,

hospitalisations, and deaths.

Though not making a definitive pronouncement, Minister Anthony reminded the public that the only way to ascertain that Guyana has been bedeviled by a variant(s) is to engage in genomic sequencing, a type of

Vaccine: A nurse at the National Infectious Diseases Hospital at Liliendaal, Greater Georgetown, preparing to administer a dose of the OxfordAstraZeneca vaccine to a local healthcare worker

No samples have been sent since then.

Contextually, genomic sequencing is a type of genetic analysis used to determine whether COVID-19 samples are the ‘normal’ strain of the coronavirus that causes COVID-19 or whether it could be one of the variants. These variants are created when viruses spread and mutate.

According to the BBC, it is not unusual for viruses to mutate, and more often than not, mutations are usually insignificant. Sometimes, however, viruses do mutate into ‘stronger’ or more advantageous forms of the virus. This has been the case with four variants thus far: the Alpha variant that emerged in the United Kingdom (UK) last year, the Beta variant that emerged in South Africa, the Gamma variant that emerged in Brazil and the Delta variant that emerged in India.

These variants are still categorised as coronavirus that causes the disease COVID-19, except they have mutated into stronger (or more infectious) forms.

Delta variant was first discovered in India, it is now the dominant variant in the United States (U.S.) and we have travel back and forth from the U.S. on a daily basis so one can assume that we have different types of variants that are circulating in Guyana and would have contributed to the clinical picture that we see,” the Health Minister reasoned.

And, the “clinical picture” recorded locally, he related, has been those increasing numbers. He, however, hastened to add that despite the unconfirmed presence of variants, the preventative and protective measures for COVID-19 have not changed, as masks still need to be worn, crowds need to be avoided and adequate sanitisation must be engaged in.

A CRUCIAL WEAPON Importantly, he said that vaccination remains a crucial weapon in the available artillery to protect against COVID-19. These vaccines, he explained, would not prevent an individual from be-

vaccinated who would’ve died from COVID and so I think it is making a very good case about why people should be vaccinated because once you are vaccinated, you are more or less protected against the virus,” Dr. Anthony explained.

An individual is cons idered fully vaccinated two weeks after they receive their second dose of a COVID-19 vaccine.

And, according to statistics provided by the Head of Internal Medicine at the Georgetown Public Hospital Corporation (GPHC), Dr. Mahendra Carpen, no fully vaccinated person has died after contracting COVID-19, thus far.

In fact, Dr. Carpen related that in April, May and June there were a total of 152 COVID-19 deaths recorded in the COVID-19 Intensive Care Unit (ICU) at the National Infectious Diseases Hospital at Liliendaal, Georgetown, but none of those patients were fully vaccinated and only SEE PAGE 7A

Recovery underway

GUYANA CHRONICLE QUARTERLY Tuesday, July 20, 2021

--as authorities move to repair flood-damaged infrastructure by year-end

Public Works Minister, Juan Edghill

By Rehana Ahamad THE recent floods have resulted in tens of millions of dollars in damages to public infrastructure, and, even though a series of emergency works were already executed, a lot more needs to be done, according to Minister of Public Works, Juan Edghill.

“Some of it [the damages] were remedied in an emergency manner, so now we have to go back and make sure that it’s done on

a more permanent basis” Minister Edghill said in a recent interview with the Guyana Chronicle.

He related that although impact assessment reports were being prepared, the Public Works Ministry was forced to move immediately to ensure that critical structures were repaired amid flooding.

“We had to put in tubes, fix roads, do back the bridges that were washed away and so on,” Edghill posited.

He also related the gov-

Construction of a culvert at Unity, East Coast of Demerara

ernment’s commitment to completing infrastructural repairs, at least, by the end of the year.

Additionally, Minister Edghill stressed the need for Guyana to pursue the rehabilitation works in a manner that encompasses climate resilience.

“If the same thing SEE PAGE 10A

A number of bridges, roads and culverts were washed away or destroyed due to the floods

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GUYANA CHRONICLE QUARTERLY Tuesday, July 20, 2021

Local car dealer goes ‘green’ with electric cars

LECTRIC vehicles (EV) and their production have recently emerged as the latest trend in the automobile industry, with various acclaimed and known automobile companies such as Tesla, Nissan,

Chevrolet, Hyundai, Kia and many more joining the bandwagon.

Even luxury brands like Audi, Porsche, as well as BMW have embraced the trend and have placed electric models on sale.

In joining the global shift to gasless vehicles and aiding in the fight against Global Warming, local auto dealer, BM Soat, is now offering all-electric vehicles which produce zero direct emissions.

This new addition will not only play a pivotal role in saving the planet but also in saving people money.

According to the auto sales company, it is gradually catching up with the drift to join the “green initiative” geared at preserving and protecting the environment.

Electric Cars are driven by an electric motor rather than being fuelled by gasoline. The electric motor retrieves its energy via a controller that regulates the degree of power depending on the driver’s accelerator pedal use.

The electric cars are powered by rechargeable batteries.

These batteries can also be used for performing other functions like the functioning of the lights and wipers.

Conventional vehicles, on the other hand, are fuelled by gasoline or diesel-powered engines. Electric vehicles, however, are not all the same.

The “plug-in hybrid” vehicles offer gasoline or diesel engine while also offering an electric motor, while other electric vehicles completely forsake liquid fuels and operate solely on electricity.

These are “battery-electric” vehicles. Some electric vehicles, namely “hydrogen fuel cell” vehicles power

electric motors by the conversion of hydrogen gas into electricity.

According to BM Soat, one can travel up to 226 miles, on a full charge, for approximately $3,200 in the 2019-2020 Nissan leaf.

The next deal is the 2010-2013 Toyota Allion and Premio for just $3 million cash price or a down payment of $800,000 with up to four years to repay with affordable monthly installments.

This, according to the auto dealer is the best price persons could find in the country and it’s a limited-time deal.

In a recent publication by the International Coun-

cil on Clean Transportation (ICCT) it was reported that by the end of 2019, electric vehicles were deployed in

over 100 countries around the world.

More than a dozen countries have proposed time-

lines to transition to all zero-emission vehicles within the next three decades.

Although progress has been made, the global transition to electric vehicles is still at an early stage, and Guyana is also catching up to speed.

The major benefit of an electric car is the contribution it makes towards improving air quality in towns and cities. With no tailpipe, pure electric cars produce no carbon dioxide emissions when being driven.

This reduces air pollution considerably.

Put simply, electric cars give us cleaner streets making our towns and cities a better place to be for pedestrians and cyclists.

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GUYANA CHRONICLE QUARTERLY Tuesday, July 20, 2021

An arm of strength for women in business --the Association of Women Entrepreneurs - a support system for entrepreneurs

By Mesha Sealey WOMEN in business is not an unfamiliar concept in the modern society we live in today. The phenomenon of women and young ladies in leadership positions, in business, and even founding companies of their own, is not one that was birthed overnight, and certainly not a fad that can just be “hopped onto”.

Working towards the establishment of a business is a difficult task in itself, but it is the ability to establish and sustain their businesses, especially here in Guyana, that seems to leave many women stumped.

It is clear enough that more women are becoming interested in starting their own businesses. However, what leaves most women clutching at straws is the lack of knowledge or experience on how to start their own businesses, sourcing funding, and even the right advertising tactics to ‘rope’ customers in.

It is to this end that the Association of Women Entrepreneurs (AWE) has committed to assisting women in business, specifically entrepreneurs, to thrive in a system that often seems to work against, rather than for, their growth.

One of the deterrents, AWE’s Secretary, Latoya Khemraj, outlined in an interview with this publication, is the “red tape” in the system, which she says is more of a hassle for women than men.

nowadays seem to be following the multitudes, so while we may be more qualified or more experienced than someone else with a similar business, persons are likely to go after the ones that are more wellknown and ‘out there’,” she noted.

DISPARITY IN SUPPORT Still speaking on support systems, however, Pitt said that another glaring issue is that women setting up small businesses are often taken advantage of due to

Secretary of the Association of Women Entrepreneurs, Latoya Khemraj

“We find that women have it more difficult in going through the ropes of setting up their organisations or businesses….

The systems can be really frustrating, which is one thing that can discourage them from making that step forward, because it is a lot of time, effort and monies, some of which are sometimes wasted,” she said.

However, bureaucracy is not the largest deterrent to women in business. Finances, or the lack thereof, can

pose a threat to the success of any business, be it led by women or men.

Not all women entrepreneurs or entrepreneurs in general, are fortunate enough to have a wealth of financial resources when they go about establishing their businesses. Some have to rely on bootstrapping their entrepreneurial ventures, while some are fortunate enough to have an investor, or even source a small loan.

However, it is extremely difficult for women to source loans, due to gender and cultural biases, and sometimes, a lack of credentials.

Another major issue that women face in establishing their own businesses, however, is the lack of a support system, or any system that could “get them out there,” or bring credibility to their businesses, one makeup artist and entrepreneur, Kissa Pitt, has shared.

“I think it’s harder because we’re now coming out there into the business world, and we don’t have many people to speak for us, and people are very sceptical. A lot of persons

the size of their businesses, friendships and familial relationships.

Multiple times, she, and others, have been asked to lower the cost of their products or services, give large discounts, ‘flex’ with their time, and even, Kissa enunciated, give their products or services for free.

Further, she said that while persons would respect the time of other small business owners in similar professions, hers would be taken for granted simply because she doesn’t have the reputation that other businesses do.

“They question the credentials of persons with small businesses, but if it’s someone that’s popular, or carries a ‘reputation’, they’d gladly run to them with no qualms. They won’t pay our prices, but they’d pay a higher price to go to someone who’s more-well known,” she said.

Women tend to face the greatest challenges in acquiring support, from lacking ‘connections’, which seem to be the most likely path to success, to financial access or emotional support, SEE PAGE 17A

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GUYANA CHRONICLE QUARTERLY Tuesday, July 20, 2021

GTT aiming for 10,000 new ‘Blaze’ customers by year end --exploring wireless landline services, says new CEO

By Tamica Garnett WITH over 75,000 of its customers already using its fibre optic “Blaze” system, the Guyana Telephone and Telegraph Company (GTT) is aiming to add another 10,000 customers to the facility this year, even as it introduces ways to improve on its DSL network as well.

The company also recently began implementing its Wi-fi mesh and Plume home-pass services, which are geared at delivering stronger connectivity to consumers.

In an exclusive interview with the Guyana Chronicle, GTT’s Chief Executive Officer (CEO), Damien Blackburn, said that the company is striving to “get the economics right” to ensure that

GTT’s CEO, Damian Blackburn

every customer, who has fibre available in his/her community, is encouraged to move to the new system.

“We want everybody in Guyana in a fibre area to take on the fibre service, in-

stead of using the traditional landline and DSL service.

Fibre to the premises is the best way to consume your service, it’s most reliable, less prone to faults, and you will get the fastest speed on

it which is very important for us because it’s easier for us to guarantee the service,” Blackburn related.

Fibre optic is a transmission alternative to the DSL which uses copper phone lines to transmit data.

The fibre optic system uses ultra-thin glass strands that carry light instead of electricity, making for faster data transmission.

GTT launched its US$25 million “Blaze” high speed fibre optic system in 2017, which has since expanded widely across the country, with plans to expand even further.

“When you look at the raw statistics Guyana is doing very well. We benchmark pretty well as a country on fibre to the premises, mainly because GTT invested in fibre. We’ve already passed about 75,000 homes which is about 40 per cent of the country. Even in the UK where I’m from we don’t have such a large percentage of coverage,” Blackburn said.

The company has also increased capacity in its customer service department, and is looking at new ways to serve its business customers, as the company looks towards developing itself in the new liberalised telecommunications arena.

“These things are happening but perhaps we have not always communicated the pace of change and what will happen over a period of time. Converting from copper to fibre is a long project and we need to get better at communicating where we have made progress and where we haven’t,” he noted.

Blackburn said too that getting existing DSL customers to switch over to the fibre network will also assist the company in freeing up space to expand its landline services, as the fibre comes with the landline service.

Over the years, GTT has accumulated a backlog of landline applications, but in many cases did not have the capacity to provide the service, as many areas were maxed out in terms of capacity. With customers switching to fibre, the company will be able to use vacated lines to provide services to other un-serviced customers.

“As our fibre rolls out, you can put your landline on that which will free up capacity for the older landlines, so we will be going back to some customers and say it’s now available and we can do it,” the CEO related.

WIRELESS LANDLINE SERVICES Further, Blackburn said that the company is also looking towards the provision of wireless landline services to work on handling the backlog of landline applications.

Blackburn has been with the company since April, and is leading the company’s rebranding for the new liberalised era.

Last year, the company launched its “Together we rise” rebranding campaign with a new logo and slogans, to welcome the new era; this was done just days after the

government ended the company’s telecommunications monopoly.

The company also recently launched four new business units: the Home and Fixed Services headed

by Chief Operating Officer (COO), Eshwar Thakurdin; the Mobile Business Unit headed by COO, Richard Stanton; the Business Solutions Unit headed by COO, Orson Ferguson, while Bobita Ram is the General Manager of the Mobile Money Guyana (MMG) unit.

Blackburn said that the company will be heavy on its customer-centric focus, and is looking at ways to deal with all the current issues at the company. He noted that leading the list of customer complaints is the issue of wi-fi, which is why the company has been putting more focus and investments in this area.

The company’s wi-fi mesh, and Plume homepass which includes wi-fi motion sensing pods, is an additional service offered

by GTT aimed at addressing existing issues. The facility, which eliminates wi-fi dead zones, works with the Blaze service to replicate wi-fi signal strength to ensure the best signal throughout any building It consists of “pods” which are placed around a building to extend wireless coverage. It is powered by “SuperPods” which serve as the gateway pod directly connected to the Blaze modem, and controlled by the consumers using an app. It also comes with a number of features including parental control.

Notwithstanding the focus on upgrading its fibre optic network, Blackburn said that investment in the DSL system is still on the cards, as he puts together a plan for the future of the company.

“At the moment what I’m doing is putting a long-term plan together so that I can be surer when I’m going to do things. We have to go back to the DSL and invest in it and we are doing that and you will see soon some big announcements,” the CEO related.

GUYANA CHRONICLE QUARTERLY Tuesday, July 20, 2021

Budding investment ‘hotspot’

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--$1B mall, gas-to-shore pipeline, road from Schoonord-Parika, for Region Three

By Rabindra Rooplall FUELLED by critical investments by the government and those from both local and foreign investors, Guyana is on a path to sustained economic growth, a reality that has inspired stakeholders in Region Three (Essequibo Islands-West Demerara) to position themselves to capitalise on the existing and impending opportunities.

In the pipeline for the region, among other things, is the construction of a $1 billion state-of-the-art mall at Leonora, West Coast of Demerara. The mall is the brainchild of businessman and developer, Hemraj Albert.

“To the Albert family, I want to assure you that the government is not only aware of the environment you are investing in, but we are supportive of the investment by the private sector. We are supportive of the private sector becoming the leading implementer of growth and development whilst the government provides that facilitation role.

“And this is the role of government, to create the facilitating role so that wealth can be created, jobs can be generated and the private sector play a key and critical role in this,” the President,

Dr. Irfaan Ali had said a ceremonial sod-turning ceremony in February.

The mall, to come on stream, he said, will complement the massive development projects slated for not just the region but the entire country.

Founder of the Region Three Private Sector Inc., Halim Khan, has said that the overarching development planned for the country will catalyze advancement in Region Three and even make the region a hotspot for investments.

In a recent interview with the Guyana Chronicle, Khan said the government was already looking at tax incentives to attract and motivate local investors, while at the same time empowering them to be competitive.

President, Dr. Irfaan Ali has related already that Region Three has been earmarked for the expansion and creation of essential services to support Guyana’s burgeoning oil and gas sector.

The western bank of the Demerara River will be used to create shore base facilities and the Wales Development Authority which will accommodate the natural gas-to-shore project and the new power plant for energy generation.

With the creation of the new four-lane highway from

Founder of Region Three Private Sector Inc., Halim Khan

Schoonard to Parika, the President also noted that additional industrial development, agro-processing and manufacturing can be expected in the region in the coming years.

Those developments, he said, will attract investors and result in the stimulation of growth in the regional economy, generating jobs for people and allowing them to generate wealth.

In the immediate term, Khan said that, although the COVID-19 pandemic has severely impacted businesses around the world, local businesses continue to be resilient and committed to achieving their goals.

Among the focus within the region, he said, would be the need to educate entrepreneurs and other persons who would like to join the

More deaths, hospitalisations...

FROM PAGE 2A

six patients received their first COVID-19 ‘jab’.

While Guyana has recorded a surge in COVID-19 deaths and hospitalisation, children have not been spared. At the beginning of July, a startling revelation was made that children were becoming hospitalised after they were infected- instead of simply having to deal with mild symptoms like before. And again, Dr. Anthony attributed this to some variant or the other.

The challenge is, however, that none of the vaccines used in Guyana have been approved for use in children and as such, children would not be able to benefit from the immunity it could pro-

vide them. Resultantly, Dr. Anthony asserted that all of the other precautionary measures, especially wearing face masks, should be adhered to.

President Dr. Irfaan Ali has, however, promised that if Guyana receives any of the US-made Pfizer vaccines that are being given to children abroad, Guyanese children would benefit from those.

For now, though, the Health Minister said that it is up to parents and guardians to take the necessary precautions to protect themselves and their loved ones. This is all the more important if any individual has a known comorbidity.

A comorbidity, according to the World Health

Organisation (WHO), refers to the presence of one or more additional diseases or disorders in the same individual. For example, an individual who is affected by COVID-19 is said to have a comorbidity if that individual also has an underlying condition such as cancer, diabetes, hypertension, or asthma.

Already, Dr. Carpen has revealed that a majority of people who were receiving treatment at the Liliendaal hospital were also diagnosed with comorbidities. One of the recent COVID-19 deaths has been a 16-year-old patient who was infected with the virus but also had a form of cancer, which is a comorbidity.

business community.

Khan noted that the Guyana Office for Investment (GO-Invest) will be approached to host programmes to educate persons who intend to contribute to Guyana’s economic development.

The businessman advised persons who want to get into business to first understand the steps to registering a business. Essentially, a potential businessowner would have to obtain a Taxpayers’ Identification Number from the Guyana Revenue Authority (GRA), identify his/her target markets and acquire the appropriate licences.

Depending on the business, he said persons may need to be licensed by the Environmental Protection Agency (EPA).

Khan was particularly keen on advising persons to become compliant because stakeholders need to be prepared for the proposed gas-to-shore project, which is expected to cost roughly

US$900 million.

Landing the gas project at Wales, he said, would also enable to rejuvenate Wales, a community which was hardhit because of the closure of the sugar estate.

This project, once done properly, will see Guyana’s manufacturing sector benefitting significantly from reduced energy costs.

The Gas-to-Shore Project Advisory Committee, which is led by former Chief Executive Officer of the National Industrial and Commercial Investments Limited (NICIL), Winston Brassington, and comprises other technical experts, analysed all options and past studies before choosing Wales for the project.

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GUYANA CHRONICLE QUARTERLY Tuesday, July 20, 2021

Banks DIH engaging renowned car manufacturers

By Jared Liddell WITH significant changes expected in the local public infrastructure sector and the increasing demand for vehicles, the Banks DIH Group is currently in talks with several international car manufactures to diversify its production line and tap the budding market.

Dealership Manager at Banks, Romel Edmonds, in an invited comment, told this publication that the move comes even as the company continues construction on its multi-level dealership showroom and offices at Thirst Park.

The company’s automotive section has been operational since May 2019 and has been a local supplier of UniCarriers forklifts, and spares as well as a pro-

vider of technical services for heavy machinery.

In 2020, Directors of Banks DIH Ltd., in responding to Guyana’s new reality, commenced discussions with the manufacturers of a brand

of motorcycle, which the company hopes to import and sell.

The company, while remaining silent about the manufacturers being engaged, hinted that the model of motorcycles is considered to be more attractive and

cost-effective than those on the market.

Banks DIH Ltd. is also exploring the possibilities of securing the rights for a car dealership from a “recognised” manufacturer of motor vehicles. The company had made clear its intention to invest in the transportation and renewable-energy sectors.

Banks DIH continues to increase its local presence through its growing profit margins over the years.

In 2020 the company surmounted the difficulties presented by the global pandemic ending the 2020 financial year with an after-tax profit of $5.27 billion.

According to its 2020 annual report, the company generated $30.46 billion in revenues. This was an increase of $871 million, or

2.9 per cent more than the $29.59 billion recorded in 2019.

Revenue is that total amount of income generated through the sale of food and beverage manufactured by

the group, as part of its operations. The profits, however, were garnered from taking away all expenses, including taxes.

Banks’ profit after tax for 2020 was $5.271 bil-

lion. This was an additional $747 million, or 16.5 per cent, when calculated against the $4.524 billion in after-tax profit recorded in 2019.

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GUYANA CHRONICLE QUARTERLY Tuesday, July 20, 2021

Proposed regional travel bubble could be easily accommodated by Guyana

By Rehana Ahamad SHOULD the Government of Guyana decide to participate in the regional ‘travel bubble’ as proposed by the Caribbean Community (CARICOM), not many adjustments would have to be made to ensure safe and convenient travel to and from the Land of Many Waters.

This is according to Minister of Public Works, Juan Edghill, who pointed to the fact that Guyana has been a leader in relation to reopening its air and sea ports, and facilitating safe travel even amid the global COVID-19 pandemic that has crippled many sectors, taken million of lives, and devastated the entire world.

The minister who has responsibility for the aviation sector, related that even though many countries across the world and the Caribbean have pursued strict lockdowns as a means of taming the spread of the deadly coronavirus, Guyana, under the leadership of President, Dr. Irfaan Ali, has focussed on remaining open and maintaining economic activity, while aggressively pushing a robust and comprehensive vaccination programme.

“We have come out leading as it relates to aviation, travels, and the necessary protocols being established at the airport and so on; we have led,” Edghill posited.

It was Chairman of CARICOM, Prime Minister of Antigua and Barbuda, Gaston Browne who pointed to the fact that Heads of Government of CARICOM were considering the possible resumption and perhaps even the intensification of regional tourism.

Both the World Bank and International Monetary Fund (IMF) have indicated that since the coronavirus began making its rounds in early 2020, tourism-dependent economies of the Caribbean have been particularly hard hit.

Due to the systems and restrictions put in place to contain the spread of the virus, almost all of the tourism-fuelled Caribbean countries have experienced negative economic growth, as the travel and tourism sector came to a grinding

--says Minister Edghill

halt.

This year, some countries have started to permit travel but the tourism sector, which garners much of the region’s revenues, has not yet rebounded.

“We recognise the need

a commitment to facilitate the movement of vaccinated individuals,” the CARICOM Chairman posited.

This means that Guyana remains in an even better position to welcome the travel bubble, owing to its

tries that have managed to secure enough vaccines to immunise its entire adult population.

Even though the bub-

that it could be a beneficial initiative.

“Guyana would want to facilitate smooth, safe and convenient travel for Guy-

to reopen economies while balancing the health and economic livelihood of community nationals and agreed that new protocols for health, safety, visitor management and sanitation protocols were of utmost importance in encouraging the resuscitation of the tourism sector,” the CARICOM Chairman related.

To this end, Minister Edghill said that the manner in which the pandemic has been handled by the People’s Progressive Party/ Civic (PPP/C) government, over the past year, is something that Guyana and its people should be proud of, since the country has not remained stagnant, and could easily accommodate the proposed bubble.

It was explained that the proposed ‘travel bubble’ is likely to take into consideration, the long-touted reduction of airfares and travel taxes for movement within the region.

Further, the bubble, once operationalised, is likely to facilitate the travelling of fully vaccinated individuals in an effort to lower the risks of the coronavirus even more.

“I know for sure there is

commendable vaccination efforts. To date, Guyana is one of the very few coun-

ble is yet to be finalised, Minister Edghill projected

anese, to all destinations in the Caribbean and for

persons from the Caribbean and further afield coming to Guyana,” the Public Works Minister insisted.

He said, too, that once the creation of a travel bubble, “with all of the intricacies,” facilitates safe and convenient travel, it would be something that the Guyanese government would want to examine and participate in.

“We would not be averse to it, but the primary concern is that it must facilitate movement in a safe and secure manner,” Edghill reasoned.

Notwithstanding the intended benefits, Edghill said the proposed travel bubble remains a mere idea at the level of the Heads of Government of CARICOM, and information and instruction have not yet trickled down to the regional ministries and agencies responsible for travel.

“Nothing has come to us as yet. Ultimately, that is a decision of the executives, having considered all of the ramifications,” Edghill noted.

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Recovery ... should happen again, we can’t have the same thing happening [outcome],” Edghill noted.

According to reports, the initial set of repairs are

being pursued through a $10 billion supplementary budget which was recently approved by the National Assembly.

As it relates to climate

resilient infrastructure, Minister Edghill had previously indicated the need for Guyana to replace all of its wooden bridges and culvert with sturdy, concrete

GUYANA CHRONICLE QUARTERLY Tuesday, July 20, 2021

structures.

“We have to make up our minds. It is going to cost a lot, but we got to start building them in concrete,” he said.

FROM PAGE 3A

Edghill noted that the public infrastructure of almost all of the flooded regions were badly damaged.

Added to that, almost all of the country’s ongoing infrastructural projects have been affected due to the floods.

Edghill had said, however, that contractors have not stopped working, but have managed to put systems in place to ensure that they move ahead with other aspects of their work, which are not heavily dependent on good weather conditions.

“Nothing is stalled; affected, but not stalled.

They’re trying to do other things… because of the rain and flooding, we can’t get to do paving; we can’t put down the asphalt or do concrete where there is water; that is the difficulty we’re faced with,” Minister Edghill said in a previous interview with this newspaper.

The minister, who has visited several of the flood-hit communities, expressed hope that the devastating floods, which surpassed two months, would end soon, so that those affected can begin to heal and rebuild.

“Hopefully we can go

into recovery very soon,” Edghill anticipated.

He recalled that ever since the floods started, the government has been able to activate and deploy its emergency response teams to address the immediate needs of those affected. These efforts continue to be led

by President, Dr. Irfaan Ali, who has been visiting various communities to engage residents on their needs and concerns, so that sufficient relief can be mobilised.

Only recently, a team from the Disaster Emergency Management Agency (CDEMA), wrapped up a detailed assessment which is expected to determine the extent to which the flood has affected all sectors of Guyana, including the infrastructural impacts. Similar studies were done following the 2005 floods.

The assessment determined that the floods affected approximately 290,000 people, an equivalent of 39 per cent of Guyana’s population. The overall economic impact was estimated to be about US$465 million, or 59 per cent of Guyana’s Gross Domestic Product.

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GUYANA CHRONICLE QUARTERLY Tuesday, July 20, 2021

Innovation, investments and ingenuity --the hallmark of Guyana’s education sector

COPPING multiple regional awards, the roll out of the Guyana Online Learning Academy (GOAL), expansion of the Guyana Learning Channel into hinterland communities and the completion of the first school under the Guyana Secondary Education Improvement Project (GSEIP), are just a few of the many developments that marked yet another exceedingly active quarter for the education sector in Guyana.

The Minister of Education, Priya Manickchand, continued to maintain her signature proactive and handson approach to the handling of this sector, as she crafted what might very well be Guyana’s best era in education.

The second quarter of the year built on and developed many of the declarations made in the first quarter of the year, but also had quite a few interesting adds-on.

The roll out of the of the “Quiz Me” and “Booster” programmes for the National Grade Six Assessment (NGSA) students, who need-

of Education (MoE) is actively considering the reopening of schools come the new school year that starts in September, to bring an end to the physical closure of schools brought on by the COVID-19 pandemic in 2020.

The MoE noted that the decision was based on the encouraging vaccination of citizens countrywide, weighed against the growing learning loss that the country and the rest of the world continues to encounter.

There is also the fact that many children are largely asymptomatic or unaffected

by COVID-19. However, it remains to be seen how the most recent occurrence of a number of children being admitted to the COVID-19 Intensive Care Unit (ICU) would affect this decision going forward.

Thanks to the roll out of a vibrant campaign for GOAL, the programme received a whopping 8,800 applicants, almost twice the number of applications that can even be considered for this year. This is testimony

Notwithstanding the pandemic and flooding, there was a high turnout of students for the writing of the NGSA mock exams

In addition to the GOAL scholarships, the ministry rolled out another partnership

ara, and now the Prospect Secondary School on the East Bank of Demerara.

Another sigh of relief was felt when Guyana’s results for the 2020 Caribbean Secondary Education Certificate (CSEC) and Caribbean Advanced Proficiency Examinations (CAPE) were finally announced in May, after students and other stakeholders would’ve endured an over seven months long wait for the results.

But the wait was worth it and it was a proud moment when Guyanese learnt not only who the deserving top students were, but also learnt that, regionally, Guyana had

won five of eight awards at CSEC and two of eight awards at CAPE. There were also much investment in Technical and Vocational Education and Training (TVET), with the signing of contracts at a number of Practical Instruction Centres (PIC).

However, notwithstanding the highs, the period was not without its lows, and the destruction of the North Ruimveldt Multilateral Secondary School by fire, on June 19, was a big blow for students, teachers and parents of that school.

The fire destroyed a section of the school which

housed its first to fifthform classrooms, Science, Home-Economics and Information Technology laboratories, as well as the school’s $3 million ‘smart’ classroom, the first to be launched in Guyana.

The situation greatly affected the students of the school, as it was merely days before the commencement of the Caribbean Examinations Council (CXC) 2021 exams. However, thanks to quick action by the Ministry of Education, the students were afforded the opportunity to write their subjects at their school’s site.

Minister of Education, Priya Manickchand (fourth from left) with the CSEC and CAPE regional awardees

ed all the assistance they could get as they prepared to write their exams in very trying times, was indeed a big and welcomed development.

The holding of the first of two NGSA mock exams was also another good development, with the high turnout marking the eagerness of students to get back in their classrooms, and their dedication to doing their best in their exams.

One of biggest announcements of the quarter was the declaration that the Ministry

to the hunger for education among Guyanese.

The programme is expected to offer 4,500 scholarships this year, with successful applicants expected to know their fate in the next quarter.

The programmes range from those that require no formal qualifications to Master’s degrees and post-graduate programmes, ensuring that it catered for the wide range of diverse educational background among Guyanese.

with Coursera that saw 800 Grow with Google Scholarships being offered to Guyanese.

The completion of the US$4.7 million Westminster Secondary was also a welcome relief for the West Demerara area specifically, and the education sector entirely, as it marked the first break from a pattern of issues with schools earmarked under the GSEIP. The GSEIP also includes the Good Hope Secondary, on the East Coast of Demer-

A huge section of the North Ruimveldt Multilateral School, destroyed by fire in June, was a low point during the second quarter

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GUYANA CHRONICLE QUARTERLY Tuesday, July 20, 2021

A hub for business in the making --with a flurry of activities, more jobs and widespread investments

BOOSTED by the emergence of a massive petroleum sector and rejuvenated productive sectors, Guyana is on the path to economic transformation even as the country, like many others, continues to contend with the direct and indirect effects of the COVID-19 pandemic.

Steered by attempts by the Government of Guyana to create an environment that is conducive to business, Guyana’s economy is on course to becoming an economic powerhouse, with investors, both foreign and local, already positioning themselves to benefit from the bounties and inspire local growth.

This attention, while customarily placed on Region Four, has not been centralised and this is

evidenced by the Guyanese-owned energy company, Vas Energy Inc.’s plan to construct a US$100M state-of-the-art cement plant at La Resource, Essequibo Coast, in Region Two. Chief Executive Officer (CEO) of Go-Invest, Dr. Peter Ramsaroop, had said that Guyana’s economy is currently booming and there are countless investment opportunities that are available.

He said that the ultimate goal of the People’s Progressive Party/Civic (PPP/C) government is the creation of jobs for the people. It is for this reason that he is proud of the investment that is being made to construct the cement plant.

“Although it’s a foreign investment, it’s a local investor and, recently, we President, Dr. Irfaan Ali leaving his signature on the spade he used to turn the sod for the construction of the $4B Courtyard Marriott Hotel

put out an Expression of Interest for a hotel around Guyana, and what we are proud of is that the first two hotels that have started are local Guyanese investors,” Dr. Ramsaroop said.

According to Dr. Ramsaroop, the anticipated infrastructural boom in Guyana will create a high demand for cement. He told the gathering that the plant is being constructed at an opportune time.

He said with current investments, such as the construction of the plant, and other potential investments, Region Two will be positioned for massive development.

The Indian High Commissioner to Guyana, Dr. KJ Srinivasa, had said that the cost of importing construction materials is very expensive and once the plant becomes operational, Guyanese will benefit from reduced costs. The plant is expected to create employment for hundreds of persons.

“You are helping the local region to develop. I think that the scale of investment is what Guyana needs. These investments play an important role apart from the oil and gas,” Dr. Srinivasa added.

Just days after the sod turning for the cement

plant, Cardinal Investments Incorporated, owned by Guyanese couple Roy and Denise Bassoo, turned the sod for the construction of a massive $4 billion Courtyard Marriott Hotel.

The six-storey, 140room Courtyard Marriott will be constructed on 2.5 acres of land leased by the government, in the vicinity of the Cheddi Jagan International Airport (CJIA), just adjacent to the captivating Timehri roundabout. The project has an estimated construction period of 24 months.

According to President, Dr. Irfaan Ali, the environs of the CJIA is slated for mammoth investments and transformation.

The Head of State pointed to the fact that during his tenure as a Minister of Tourism, Industry and Commerce, he received plethora of complaints from organisers as well as local and international racers and fans who find it difficult to travel to and from Georgetown, during the hosting of events at the South Dakota Circuit in Timehri.

To this end, Dr. Ali assured investors that the intended 2023 completion date for the new hotel will coincide with the full transformation of the East Bank Demerara corridor.

“So, not only are we seeing the realisation of a hotel, but we are seeing a realisation of a new urban spread around the airport, and this area will become a major hospitality, leisure, and sports recreational area, in addition to the business segment,” President Ali said, as he pointed to the massive expansions ongoing at CJIA. He added: “The type of investments that will be created around will only add to the success of this [Courtyard Marriott] project.”

As a matter of fact, Dr. Ali said that within the next five years, the government alone will be plugging billions of dollars into improving and modernising that catchment area.

“We are already talking to urban planners and our local planners. We have established a group looking at the development of Silica City and the type of infrastructure that will surround Silica City,” the President informed.

He said specifically that the administration wants to attract investors for a number of state-of-the-art projects, including the construction of a first-class marina in the Demerara River, a “world class” resort along SEE PAGE 17A

GUYANA CHRONICLE QUARTERLY Tuesday, July 20, 2021

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A hub for business...

FROM PAGE 17A

the Linden-Soesdyke Highway and, a “super highway” to significantly reduce travel time between the CJIA and Georgetown.

As it is, President Ali said that in excess of 40 international investors “are knocking at our door for different investments in the airport; as a matter of fact, the airport authority is short of lands to facilitate these investments” Countries the world over are still reeling from the effects of the COVID-19 pandemic, and while Guyana has been no exception, it has not only shown resilience but has been able to create an environment that has attracted a number of big investors. Currently, 25 projects are on-stream that will create over 1,600 jobs.

The importance of a job cannot be overemphasised, as it not only generates income to purchase basic necessities, but also imbues in one a sense of purpose, productivity and fulfillment.

And even as Guyanese continue to explore ways of coping with the pandemic and innovating to make ends meet, ongoing private projects are extrinsic motivation and evidence of an economy that has bright

prospects.

Dr. Ramsaroop had said that within the period August 2020 to April 2021, approximately 25 projects were initiated, and these have the potential to create 1,678 jobs when completed.

Of the 25 projects which were initiated within the aforementioned period, 16 are local, six are Foreign Direct Investments (FDI), and three are joint ventures.

In speaking further about those projects, he said: “These projects have all started. Local investments presented the largest portion of this investment, and I am elated to make this point.”

Based on a breakdown of the local investments, four were in the agriculture sector; six in the service sector; two in light manufacturing, and one each in Information and Communication Technology (ICT), tourism, forestry and energy.

Of the six FDI projects, three are service related; two are in manufacturing, and one in agriculture. The joint ventures account for two in manufacturing and one agriculture-related project.

The employment opportunities created by

CEO of Go-Invest, Dr. Peter Ramsaroop (second from left), and CEO of Georgetown Cement Factory, Vijay Sukhdeo (second from right), turn the sod at the site identified for the cement plant. Also pictured are Prime Minister’s Representative, Arnold Adams (left) and Indian High Commissioner to Guyana, Dr. KJ Srinivasa (right)

those projects will be significant, especially since Guyana recorded a 12.8 per cent unemployment rate for the first quarter of 2020.

An arm of strength for ...

FROM PAGE 5A mentors and sponsors. However, difficulty in getting the needed support often forces women to delay starting their own businesses.

Added to the need to balance responsibilities, often as a wife, mother, daughter, or employee of another company, the late or uncertain starts, and fear of failure, gender inequality and limited knowledge on how to thrive in the business world, hinder the progress of women in the world of business.

These challenges, Khemraj said, further reinforces the need for the

AWE. While the obstacles are there to discourage, AWE sees it fit to match these with solutions.

Through networking, through training, fundraising, loans, and collaboration among businesses and organisations, the association aims to strengthen women-owned businesses, whether by matching women who need guidance with others, well-grounded women or businesses of similar nature, engaging them on the benefits of organisations such as the Small Business Bureau or IPED, such as small loans and business trainings, or training sessions and min-

iature workshops.

These training sessions include group meetings and exercises, business development trainings, and marketing and sustainability trainings.

Just recently, the association had their second Market Day, where the main objectives were to promote, market, network, and create sales for small businesses. Currently, AWE is engaging women in business on the benefits of the Oil-andGas industry so that they, too, can benefit from Guyana’s new wealth of opportunities.

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GUYANA CHRONICLE QUARTERLY Tuesday, July 20, 2021

Agriculture sector weathers storm --proves strength, resilience amid torrential showers, pandemic woes

DESPITE the challenges brought on by climate change, the above-average rainfall experienced countrywide over the past few weeks, and the resultant flooding, Guyana’s Agriculture sector has managed to stay afloat.

This is largely due to the emphasis placed on the development of the agriculture sector by the Government of Guyana, particularly the Ministry of Agriculture.

While a significant number of crops and livestock were lost during the floods, the Ministry of Agriculture was able to provide some relief to farmers and other agriculture stakeholders. The ministry also received funds to mitigate the effects of the floods.

The Government of Japan has made approximately US$1 million available to boost Guyana’s National Flood Early Warning System.

Minister of Agriculture, Zulfikar Mustapha, said that

Minister of Agriculture, Zulfikar Mustapha, recently inspected pumps following the country wide floods

the recent flooding has highlighted the need for an effective National Flood Early Warning System.

He further said that in order to develop a full-fledged Flood Early Warning System, significant human, tech-

nical and capital investments are required. In an effort to maximise its performance and increase the country’s drainage and irrigation capacity, the National Drainage and Irrigation Authority (NDIA) had commissioned

seven excavators.

These excavators, which were supplied by Farm Supplies Limited at a total cost of $125,300,000 will add to the NDIA’s current fleet that is currently spread out across the country.

While offering remarks at the commissioning, Minister Mustapha said that the recently acquired pieces of machinery will be used to complement NDIA’s efforts to boost the country’s drainage and irrigation system.

“These pieces of machinery will add to the fleet that we already have, complementing NDIA’s efforts to boost the country’s drainage and irrigation system.

We recently witnessed, and, in some areas, we are still witnessing, unprecedented levels of rainfall.

“During this time, our capabilities were put to the test. I can safely say, given the amount of rainfall that fell over the last two months, the NDIA should be complimented for executing its duties around the country,” Minister Mustapha said.

Some 95 per cent of the drainage responsibility in the country rests on the shoulders of the NDIA and the Ministry of Agriculture.

Further, in May, during a virtual United Nations (UN) Food Systems forum, Mustapha disclosed that an amount exceeding $800 million had been earmarked for six agro-processing facilities.

He related that these facilities are slated to be established in farming communities, notably Aranaputa and St. Ignatius in Region Nine, Black Bush Polder in Region Six, and Leguan in Region Three; and further committed to replicating these efforts in Regions Two and 10.

The minister told the UN forum that the government’s investment in agriculture remains aligned with the global agenda to ensure sustainability of the world food system, especially in light of growing threats such as climate change and other factors that have resulted in continued food loss and wastage.

He pointed to the importance of pursuing value-add-

ed initiatives, which will lessen the loss and wastage of agricultural produce, including fruits and vegetables.

Moreover, the agro-processing facilities are expected to be a mere component of the administration’s plan to establish industrial estates/ parks in various parts of the country, commencing with Regions Two and 10.

Additionally, taking up its place in CARICOM as the lead on agriculture, the Government of Guyana has been aggressively promoting and supporting investment in, and development of the agriculture sector.

In addition to rice and sugar production, focus is now being placed on the cultivation of non-traditional and high-earning commodities. One such industry is the coconut industry. Since taking office, the government, through the Ministry of Agriculture, has moved to develop the sector by ensuring proper planting materials are easily accessible to farmers across the country.

Last year, as part of the Hope Coconut Industries Limited’s (HCIL) emergency budgetary allocation, two new coconut nurseries were established; one at Kairuni on the Linden-Soesdyke Highway and the other in Charity, Region Two. The Agriculture Ministry has since announced plans to establish six additional nurseries across the country during this year.

The Inter-American Institute for Cooperation on Agriculture (IICA) recently handed over a number of seeds and planting materials to the Ministry of Agriculture to assist with the government’s flood-relief efforts.

The items will be distributed to farmers who suffered losses as a result of the recent flooding, a release said.

The new excavators will greatly assist in NDIA’s efforts to boost Guyana’s drainage and irrigation system

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Private Sector urged to ramp up supply of construction materials SENIOR MINISTER in the Office of the President with responsibility for Finance, Dr. Ashni Singh, has said that the government recognised that high costs and low supply of construction materials were ongoing concerns, and the administration is working to address them.

A report by the Department of Public Information

as a result of public sector activity – the buildings, the roads, the bridges, et cetera, the government is building – but also on the private sector side.

“You know we will have multiple hotels that are going to start constructing now. You are going to have people taking up their house lots and starting to build their homes.”

(DPI) noted that Minister Singh said challenges in the global marketplace, such as the cost of shipping, are only transitory, and that the market will regulate itself at some point. In the interim, the Government will do what it can to facilitate improvements in supply and cost.

“We are tackling this from multiple channels. First of all, we’ve taken off the taxes from most construction materials… But secondly, we’re also working with the private sector,” Dr. Singh was quoted as saying.

According to the Finance Minister, the government has a long track record of working closely with the private sector, which it is tapping to encourage additional sources of supply for construction material like steel and cement. He said the private sector has been exploring those options.

“There is going to be a tremendous construction boom in Guyana, not just

President Irfaan Ali made similar statements to the private sector during the launch of a Saipem offshore construction facility at Water Street, on June 5.

At that event, he said there were attempts to set up as many as 20 large concrete plants in Guyana. Though the government wants to see the supply of construction materials increase, the President asked why locals cannot be the ones starting up and owning such plants.

“What hampers the local chambers of commerce in Region Three to bring together their business leaders and say ‘let’s form a company and let’s build a concrete plant in Region 3?”

The President said Guyanese businesses must address these needs by breaking down their individual approach, in favour of a collective approach.

The President encouraged the formation of consortia to meet the new scale of needed investments.

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GUYANA CHRONICLE QUARTERLY Tuesday, July 20, 2021

More oil, favourable prospects and increased revenues --the results of consistent operations in Guyana’s petroleum sector

GUYANA’S petroleum sector has been the epitome of productivity in recent times, abuzz with activities that have proven fruitful for both the nation and its investors.

Though not without its challenges, the sector has, over the past few months, consistently produced positive results, stretching from significant contributions to economic growth and a new discovery of high-quality oil at the Stabroek Block offshore Guyana to increased revenues for the country.

According to the Bank of Guyana, the nation recorded positive growth at the end of the first quarter, primarily on account of oil production.

The Guyanese economy, unlike others which could not withstand the effects of COVID-19 and other external

shocks, continued to benefit from oil production. Crude oil production increased to 11 million barrels at the end of March 2021, as daily oil production increased significantly when compared to one year earlier.

Moving forward, the local economy is expected to build on its performance in the first quarter, as it is projected to record real oil Gross Domestic Product (GDP) growth of 20.9 per cent, while the nonoil economy is estimated to grow by 6.1 per cent.

Based on those projections, there is no doubt that the contributions of the petroleum sector are already significant, with further growth on the horizon as time passes.

A signal of the impending growth in the sector was ExxonMobil’s 20th oil find offshore Guyana, in June, this

year. The latest detection was made at the Longtail-3 site in the Stabroek Block.

A statement from ExxonMobil said that drilling at Longtail-3 encountered 230 feet (70 meters) of net pay, including newly identified, high quality hydrocarbon bearing reservoirs below the original Longtail-1 discovery intervals. It specified that the well is located approximately two miles (3.5 kilometers) south of the Longtail-1 well.

It was drilled in more than 6,100 feet (1860 meters) of water by the Stena DrillMAX. Outside of this find, over at the Canje Block, even as the prospects remain promising, the latest well drilled there by ExxonMobil, Jabillo-1, came up dry after being drilled down to 6,475 meters.

Westmount Energy, a

President of ExxonMobil Guyana, Alistair Routledge, and President of CNOOC Petroleum Guyana Limited, Liu Xiaoxiang, hands over a token of appreciation to “God Mother”, First Lady, Arya Ali

holding company for a group of subsidiaries which operate in the oil-and-gas-related industries, reported that it has been informed by JHI Associates Inc. that the Jabillo-1 well on the Canje Block reached its target depth without encountering commercial hydrocarbons.

The Jabillo-1 well was drilled down to 6,475 meters in 2,903 meters of water by the Stena Carron drillship.

Considering the outcome of this operation, the well will be plugged and abandoned, as operator, ExxonMobil, turns its attention to the largest prospect to date at the Canje Block, the Sapote-1 well, located about 100 kilometers away from Jabillo-1.

According to Westmount Energy, Sapote-1 is located closer to Exxon’s upper cretaceous discoveries in the Stabroek Block. It is described as an independent multi-layer prospect, which will evaluate several upper cretaceous targets.

It is anticipated that Sapote-1 will be spudded in mid-August, using the Stena DrillMAX drillship, with results due to follow in October.

Further, drilling of the Kawa-1 well, the first well at the Corentyne Block offshore Guyana, is set to commence before August 15 and will cost close to US$85 million, CGX Energy Inc has said.

The Kawa-1 well is lo-

cated in the north-east quadrant of the Corentyne Block, approximately 200 km offshore Georgetown. The water-depth is approximately 355 metres (1,174 ft) and the expected total depth of the Kawa-1 well is 6,575 metres (21,700 ft).

As previously announced

by CGX, Kawa-1 will be drilled by the Maersk Discoverer, a sixth-generation, semi-submersible, currently working in Trinidad for another operator.

Based on the latest update from the company, the well is expected to be spudded within August 1 to August SEE PAGE 21A

The Liza Unity FPSO is set to commence operations in Guyana next year Gas: The project is intended to bring gas directly from the off-shore vessels, to a processing plant

GUYANA CHRONICLE QUARTERLY Tuesday, July 20, 2021

More oil, favourable prospects...

FROM PAGE 20A 15 and reach total depth in approximately 85 days. The primary target of the Kawa1 well is a Santonian age, stratigraphic trap.

The estimated cost to drill and evaluate Kawa-1 is between approximately US$80-$85 million, which CGX expects to finance from one or more options that are currently being considered by the company.

It was reported, in February, that an independent prospective resource study has affirmed the world-class prospects of the Corentyne and Demerara blocks.

“As confirmed by the independent resource evaluation commission, the Guyana basin offers the joint venture access to a leading offshore oil opportunity.

We expect a robust Guyana work programme with the advancement of our exploration wells, as we continue executing on our plan to realise this value for our shareholders.

“The independent prospective resource study reaffirms our excitement about

the world-class prospectivity of the Corentyne and Demerara blocks offshore Guy-

tive resource study and report captured the Corentyne North Area, Corentyne Main Area

ExxonMobil is the only operator, so far, which has started

Kaieteur blocks –- has made 20 discoveries since May 2015 and began production in December 2019 from the Liza Phase One development project.

ExxonMobil’s first offshore Guyana project at the Stabroek Block, Liza Phase One, began producing in late 2019, well ahead of the industry’s average for development time. Liza Phase Two remains on track to begin producing oil by early 2022.

Liza Phase Two will produce up to 220,000 barrels of oil per day at peak rates, using the Liza Unity A pictorial representation of ExxonMobil’s operations offshore Guyana, in the various FPSO. First Lady blocks (ExxonMobil’s photo) of Guyana, Mrs. Arya Ali, was ofana,” former Chief Executive and Demerara Block, off- production offshore Guyana. ficially designated as the Liza Officer (CEO) of Frontera, shore Guyana.

This company –- operator Unity’s “Godmother,” as it Richard Herbert, said.

Outside of the prospec- of the Stabroek, Canje and prepares to set sail from SinThe independent prospec- tive projects, U.S oil giant

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gapore for Guyanese waters.

Late last year, the oil giant, following an agreement with the Government of Guyana, decided to proceed with the Payara field development offshore Guyana.

Payara is ExxonMobil’s third project in the Stabroek Block, and is expected to produce up to 220,000 barrels of oil per day, after startup in 2024, using the FPSO vessel. The US$9 billion development will target an estimated resource base of about 600 million oil-equivalent barrels.

So far, Guyana has recorded US$344,161,633 in direct earnings from its petroleum sector. And, with oil prices on the rise globally, Guyana could see the returns from its burgeoning petroleum sector growing, starting with earnings from the sale of its seventh oil lift, which could rake in around US$75 million.

Revenue garnered from the sale of the seventh oil lift could push Guyana’s total earnings to close to US$420 million.

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Digicel rolls out ‘Summa Rush’ promotion

URNING up the heat this summer, Digicel Guyana launched a massive promotion, “Summa Rush.”

Digicel’s prepaid customers will have the chance of “rushing” off with one of three brand new Toyota Rush SUVs. The campaign runs for seven weeks, starting on July 16 and concluding on September 2.

To qualify, customers must top up with $1000 or more (scratch cards or electronically) to collect the letters to spell the word R-U-S-H to enter into a draw.

Once the top-up is successful, the customer will receive a text message with their electronic letter. Customers can keep track of their letters collected by texting ‘SUMMA’ to shortcode 1441.

There will be three qualifying periods: July 16- August 5; August 6-August 19 and August 20 to September 2. Customers spelling the word R-U-S-H within the qualifying periods will participate in the draw for a chance to win one of the three Toyota Rush SUVs. All persons spelling the word R-U-S-H will receive $100,000 once letters are verified and deemed legitimate.

The Digicel Group is a total communications and entertainment provider with operations in 31 markets throughout the Caribbean, Central America and Asia Pacific.

Digicel also runs a host of community-based initiatives across its markets, including Digicel Foundations in Haiti, Jamaica, Papua New Guinea and Trinidad and Tobago, which focus on educational, cultural and social development programmes.

--with three new Toyota Rush SUVs up for grabs

The three Toyota Rush SUVs that are up for grabs were unveiled at a recent launch

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GUYANA CHRONICLE QUARTERLY Tuesday, July 20, 2021