Vice President and Managing Partner of GOPEC, Glenn Walters said that Jagdeo was adamant in his advice on meeting timelines and finishing initial work to head for the refinery which is anticipated to take about five years to be launched. The projected is expected to cost about $9 billion.
When asked why Guyana was aimed for this project Walters said the nation’s geographical position was appropriate, coupled with the truth that it is nearer to Brazil and other sources of crude oil.
“There are several strategic reasons, in terms of its physical location outside of the hurricane belt. As you know hurricanes are getting stronger and more powerful every year so this is a good place to keep an oil refinery outside of the hurricane belt… one thing that could be an icing on the cake is if Guyana find its own oil and gas,” Walters said.
