WILLEMSTAD – Curaçao's shipyard is positioning itself to become a regional maintenance and repair center for vessels serving the rapidly expanding offshore oil and gas industries of Guyana and Suriname.
CDM Holding, the government-owned company responsible for the shipyard, has outlined plans to invest nearly €105 million in modernizing the facility and developing the technical capacity required to service specialized offshore vessels.
The strategy was presented by CDM Holding director Agustin Diaz during the Venezuela International Oil & Gas Summit in Caracas, according to a report by Guyanese energy publication OilNOW.
The investment program, known as CAPEX 2.0, aims to prepare the Curaçao shipyard for more complex maritime operations than conventional ship maintenance.
The planned improvements include the renovation of two dry docks, modernization of technical installations, strengthening of infrastructure and replacement of outdated cranes.
Technical preparations are scheduled for 2027, with the main construction and modernization activities expected to take place between 2028 and 2030.
The shipyard, operated by Damen Shiprepair Curaçao, would seek to attract maintenance and repair assignments involving offshore support vessels, propulsion systems and specialized ships used in subsea construction activities.
These services require advanced technical equipment and specialized expertise, making infrastructure modernization an important part of the company's commercial strategy.
Guyana and Suriname are considered particularly promising markets because of the continued development of their offshore petroleum industries.
The growth of offshore exploration and production has created demand for specialized vessels that require regular maintenance, inspections and repairs.
According to the strategy presented by CDM Holding, Curaçao would not seek to replace the daily logistics and supply services already established in Guyana and Suriname.
Instead, the island would focus on attracting specialized maintenance assignments that require shipyard infrastructure and technical capabilities.
Under this approach, routine offshore supply operations would largely remain in the countries where oil and gas production takes place, while vessels requiring more extensive repairs could travel to Curaçao.
CDM Holding also sees potential opportunities in Venezuela.
Diaz identified the possibility of servicing tankers associated with Venezuelan state oil company PDVSA as one potential future market.
However, he emphasized that any resumption of such activities would depend on applicable international sanctions, reliable payment arrangements and compliance with international regulations.
The Venezuelan market therefore remains conditional rather than an established source of future business.
The proposed modernization would build on approximately €20 million in earlier investments that included improvements to dock pumps and electrical systems and the purchase of a new tower crane.
The new CAPEX 2.0 program is substantially larger, with nearly €105 million in planned expenditure.
However, there is still uncertainty about whether the company has secured the financing needed to implement the project.
It is also unclear whether CDM Holding has concluded binding commercial agreements with offshore operators or maritime service providers in Guyana, Suriname or Venezuela.
Curaçao.nu has requested further information about financing and the existence of concrete commercial commitments.
The strategy reflects an effort to capitalize on Curaçao's geographical position near major offshore energy developments.
Its success, however, will depend on whether the shipyard can complete the proposed improvements and attract sufficient specialized maintenance work from the regional offshore industry.