Chief Executive Officer of Source One Supply Oil and Gas Marine Supplies Terry Singh, who is proposing to build an onshore oil and gas facility at Vreed-en-Hoop, says he is still waiting on the government’s approval of the project.
Speaking to Sunday Stabroek last week, Singh explained that the company, which is a subsidiary of Japarts, has plans to facilitate the construction of the facility near to the Vreed-en-Hoop, West Coast Demerara stelling to serve the imminent oil and gas industry. He pointed out that the construction is estimated at US$120 million, for which he is hoping to form a consortium with other international companies.
“We can’t build this alone but we can form a consortium where we have 49% of shares being owned by overseas companies and let them build it. So far, we have 18 companies that have shown a lot of interest, big companies,” Singh said, while pointing out that major companies such as TechnipFMC, the company that is currently contracted to supply ExxonMobil with all of its subsea equipment, and UK-company Piers Mudd, have expressed their interest.
