Guyana seeks new investors for Berbice deepwater port project

Guyana is pursuing new international financing for the proposed Berbice deepwater port after Chevron declined to fund the remaining components of its feasibility study. The project, estimated to cost between US$1 billion and US$2 billion, is intended to support the country’s expanding offshore oil economy and serve as a trade corridor for northern Brazil.

President Irfaan Ali stated that the feasibility study is expected to be completed by December. The government is currently engaging potential partners, including the US Export-Import Bank, the United Kingdom, and the Qatar Investment Authority.

While Chevron acquired Hess Corporation’s 30 per cent interest in Guyana’s Stabroek Block, the company reportedly opted not to proceed with the outstanding feasibility work. Bechtel, the American engineering firm leading the design, had previously completed pre-front-end engineering design in 2023 using funds financed by Hess.