GCX Energy Inc (OYL)

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CGX gearing for major harbour project at Crab Island

By Staff Writer August 19, 2018
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The Executive Chairman of the Canadian oil and gas exploration company, CGX Energy, Suresh Narine yesterday stated, that some eight to ten international studies have shown that Crab Island, located on the bank of the Berbice River, is the most strategic location for a deep water port and the company is embarking on major works there.
According to Narine, the location’s proximity to Suriname is also very strategic because “there is tremendous exploration going on in Suriname”.

CGX has some 900 metres of frontage of which some 200 metres has already been cleared out at Crab Island. It is clearly lobbying for the siting of Guyana’s first deep water harbour there. According to Narine, “We have already done the overburdens and vertical drains etc”. He noted, that the company now has a “substantial bid out to do a breakwater along the entire seashore”. He explained, “Here is where we would create a platform into the Berbice River to catch the channel now”….. subscribe to continue.

https://www.stabroeknews.com/2018/news/guyana/08/24/local-oil-support-services-company-says-on-track/