Authorities in Guyana have embraced the position that the South American country alone cannot efficiently and competitively develop its emerging Oil and Gas (O&G) industry and as such, should continue to seek out strategic partners.
The country’s Minister of Public Telecommunications, Catherine Hughes, reiterated this position at the opening of the recently concluded Guyana International Petroleum Exhibition and Summit (GIPEX 2018).
She said the Guyana Government believes the successful development of its O&G sector can be achieved only through partnerships with international industry stakeholders and experts.
“We can only do it in partnership with you here,” she told the hundreds of international delegates gathered at the event.
Mrs. Hughes was among the government representatives addressing the hundreds of oil executives and business representatives who participated in the signature petroleum summit held at the Guyana Marriott Hotel from February 7 to 9.
According to the Government Minister, “as investors, once you put Guyana and Guyanese first, you will find a most hospitable and an enabling environment to conduct business.”
Also addressing the opening ceremony in Guyana was its Minister with responsibility for Foreign Affairs, Mr. Carl Greenidge.
He used the forum to highlight Guyana’s desire to have more international partners involved in the successful exploitation of the country’s natural resources.
According to Vice President Greenidge – performing the functions of Prime Minister at the time – Guyana’s interests, as viewed through the lens of the Foreign Affairs Ministry, is to secure “strategic partners, working with Guyana and its authorities to exploit its petroleum resources in a manner consistent with our own ambitions.”
He was adamant it is government’s hope that the GIPEX 2018 forum serves as the first of many that will provide the framework for a fuller understanding of the resource; the policy framework within which it is to be exploited and plans for joint and fruitful exploration.
Vice President Greenidge informed the potential investors and partners of developments at the level of the United Nations and a decision to refer the border controversy with Guyana and neighbouring Venezuela to the International Court of Justice (ICJ).
According to Mr. Greenidge, these are all part of ongoing efforts by Guyana to ensure that the international community recognizes the country’s sovereignty and rights over its borders and territory and to ensure that international treaties are respected.