{"id":29239,"date":"2022-02-18T00:52:58","date_gmt":"2022-02-17T21:52:58","guid":{"rendered":"https:\/\/www.al-sindbad.net\/cgx-energy-to-start-dredging-dock-construction-for-port-in-guyana\/29239\/"},"modified":"2022-02-18T00:52:58","modified_gmt":"2022-02-17T21:52:58","slug":"cgx-energy-to-start-dredging-dock-construction-for-port-in-guyana","status":"publish","type":"post","link":"https:\/\/www.al-sindbad.net\/cgx-energy-to-start-dredging-dock-construction-for-port-in-guyana\/29239\/","title":{"rendered":"CGX Energy to Start Dredging, Dock Construction for Port in Guyana"},"content":{"rendered":"<p><\/p>\n<div itemprop=\"text\">\n<p>Canada-based oil company CGX Energy OYL.V will begin dredging and building the docks of a key deepwater port at Berbice, in eastern Guyana, planned to serve the South American nation&#8217;s oil and agriculture sectors, the firm&#8217;s chairman said on Wednesday.<\/p>\n<p>CGX Energy unit Grand Canal Industrial Estates in 2010 acquired a 50-year lease for a 55-acre parcel strategically located near the Berbice River for the project. When complete, it would become Guyana&#8217;s third oil port and its only deepwater facility.<\/p>\n<p>&#8220;The construction of docks and dredging will begin very shortly,&#8221; said CGX Energy Co-Chairman Suresh Narine. &#8220;The works onshore are well advanced,&#8221; he said, noting a skilled workforce has been hired for building the port.<\/p>\n<p>Contractors are being selected, a process to be followed by construction of onshore buildings. &#8220;We are targeting the end of 2022 for the operation of the offshore supply base component of the port,&#8221; he said.<\/p>\n<p>CGX Energy&#8217;s parent company Frontera Energy FEC.TO late on Wednesday said it anticipates further investments of $5 million to $10 million for the deepwater port project.<\/p>\n<p>The port will mainly serve the oil and gas industry by supplying equipment, fuel, cement, water and power. But it also will have a portion dedicated to agricultural exports, whose production is rapidly expanding in that region of Guyana, and other areas for container ships, cruise ships and specialized cargo.<\/p>\n<p>The facility, which could serve neighboring Suriname, also plans to accommodate imports and exports of agricultural goods transported from Brazil after a road connecting both nations is completed.<\/p>\n<p>Besides the port project, CGX Energy and Frontera are drilling for oil in Guyana&#8217;s offshore Corentyne block, where they announced a discovery of oil and gas resources yet to be measured.<\/p>\n<p>The CGX-Frontera joint venture anticipates a second exploration well to be drilled in the second half of the year at Corentyne. The Wei-1 well is under a proposed $110 million-$130 million budget that will require new financing.<\/p>\n<p><em>(Reporting by Sabrina Valle in Georgetown, Guyana, and Marianna Parraga in Houston, Editing by Matthew Lewis)<\/em><\/p>\n<hr\/>\n<p>Related:\u00a0<\/p>\n<\/p><\/div>\n<p>maritime professional<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Canada-based oil company CGX Energy OYL.V will begin dredging and building the docks of a key deepwater port at Berbice, in eastern Guyana, planned to serve the South American nation&#8217;s oil and agriculture sectors, the firm&#8217;s chairman said on Wednesday. CGX Energy unit Grand Canal Industrial Estates in 2010 acquired a 50-year lease for a &hellip;<\/p>\n","protected":false},"author":1,"featured_media":29240,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[64],"tags":[],"class_list":["post-29239","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-maritime-news"],"_links":{"self":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/29239","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/comments?post=29239"}],"version-history":[{"count":0,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/29239\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media\/29240"}],"wp:attachment":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media?parent=29239"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/categories?post=29239"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/tags?post=29239"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}