ExxonMobil has committed a combined US$200 million to initiatives aimed at supporting Guyana’s development outside of oil production.
The company’s Guyana president, Alistair Routledge, highlighted investments in education, skills development, economic diversification and social development.
Routledge made the disclosure during a recent interview on the Energy Perspectives podcast, where he outlined ExxonMobil’s wider role in Guyana’s development and its efforts to help build capacity beyond the petroleum sector.
Of the total, US$100 million has been committed through the Greater Guyana Initiative, a 10-year programme being implemented by the Stabroek Block partners–ExxonMobil, Hess and CNOOC.
Routledge said the initiative is focused on areas including capacity building, economic diversification, social development and health.
“We’re about halfway through that commitment now,” he said, noting that the initiative has been supporting communities and organisations in areas outside of the oil and gas industry.
Another US$100 million has been committed to the Guyana STEM Initiative, also over a 10-year period.
The initiative, announced earlier this year, is focused on science, technology, engineering and mathematics, with the aim of strengthening Guyana’s future workforce and developing skills needed for an increasingly technical economy.
Routledge said the initiative is intended to help build the engineering, mathematics and technology capabilities that Guyana will require as the country continues to develop.
He said ExxonMobil’s investments form part of a broader effort to ensure that Guyana can maximise the benefits of its natural resources while developing other sectors of the economy.
According to Routledge, the company is seeing growth not only in oil and gas but also in areas such as hospitality, agriculture and sports.
He said the development taking place in Guyana is creating opportunities that extend beyond the petroleum sector, while infrastructure, education and healthcare remain important to the country’s long-term development.
Routledge said ExxonMobil remains optimistic about Guyana’s future, but acknowledged that there is still considerable work to be done.
“The journey is not done,” he said, while pointing to the foundations being built for Guyana’s future.
The two US$100 million commitments bring ExxonMobil’s stated investment in these long-term development initiatives to US$200 million, reflecting the company’s focus on supporting capacity building and diversification alongside the expansion of Guyana’s oil industry.
