Green Frontier Refinery Inc. intends to construct and operate a modular refinery capable of processing up to 100,000 barrels per day of crude oil. This will be achieved by integrating four modules; two per phase in two phases, each phase with a capacity of 50,000 barrels per day. The refinery will source and process crude oil from Guyana locally, and our primary products include gasoil, diesel, bitumen, asphalt, and fertilizer.
The economic evaluation concluded that the project is economically viable under the assumption of low crude oil prices. Therefore, it is recommended to establish short, medium, and long-term supply contracts to maintain low prices for as long as possible. The current pricing environment may facilitate these negotiations.
The optimal approach for executing the project is to commence with a 50,000 bpd modular refinery and progressively expand its capacity to 100,000 bpd over approximately six years.
The cost of the initial 50,000 bpd RFCC Modular refinery is estimated at US$1.5B. This is based on the FEL (Front End Loading) Methodology. At Level 1 of this methodology we understand that there is a certain level of uncertainty on the eventual CAPEX investment. This amount does include the costs to purchase the initial batches of crude oil.
Furthermore we are looking for US$50M in OPEX to fund labor during the construction years, and for the first year of operation.
We aim to be operational 2 years once funding has been secured. Our goal is to be operational 2027.
We are currently in the final phase of the evaluation by the Guyana EPA (Environment Protection Agency) to ensure our net-zero approach. An independent external agency is contracted to provide the requested studies. When the EPA is satisfied with our answers, the Guyana government will provide us the required license to operate, as they have no objections to allowing a 100% private endeavor be the 1st refinery in Guyana.
We aim to be net-zero. For that our proposed refinery is state-of-the-art in sustainability. CO₂ emissions are extremely low, and the use of water and electricity is at a minimum. In addition we are fully working in accordance with the Guyana EPA (Environment Protection Agency) to ensure proper co₂ offset and reforestation for the the area we are building the refinery on.
The government of Guyana is actively looking for initiatives that drive local economy; from reducing imports of essential materials to - as we intend to do - ways to improve lives through developing jobs in new industries for Guyana. Geen Frontier aims to employ up to 4000 people.