Pres Ali names floating production vessel ‘Essequibo 1899’

President Dr Mohamed Irfaan Ali has announced that Guyana’s newest floating production vessel will be named Essequibo 1899, paying tribute to a defining moment in the nation’s history.

The Guyanese leader made the announcement during the 136th General Meeting of the Georgetown Chamber of Commerce and Industry (GCCI) at the Guyana Marriott Hotel in Kingston, Georgetown, on Thursday.

“I’ve chosen a name for our next FPSO, and it’s called Essequibo 1899 to refresh our memories of history,” the president stated.

The naming of the vessel Essequibo 1899 references the year of the 1899 Arbitral Award.

He said the name was deliberately chosen to honour Guyana’s historical legacy while recognising the country’s rapid economic transformation.

The announcement comes as Guyana’s oil production continues to expand rapidly within the Stabroek Block offshore basin, where multiple large-scale projects are already in operation.

Guyana is currently producing more than 900,000 barrels of oil per day from four developments, Liza Phase One, Liza Phase Two, Payara and Yellowtail, operated by ExxonMobil and its partners.

The country’s production capacity is expected to increase further with the arrival of additional floating production, storage and offloading (FPSO) vessels as new offshore developments come on stream.

President Ali noted that Guyana’s growth in the energy sector must continue to reflect the country’s national identity and history, even as it strengthens its role as a major oil-producing nation.

Guyana’s expanding oil sector has positioned the country among the fastest-growing economies in the world.