A $100 million USD Investment Fund has been set up particularly for Guyana to boost the provision of its onshore services.
The Guyana Office for Investment (GO-Invest) on Tuesday announced the development coming out of the Society of Petroleum Engineers (SPE) Offshore Europe Conference and Exhibition held in Aberdeen, Scotland from September 3-6.
GO-Invest’s Chief Executive Officer (CEO), Owen Verwey made the announcement during a press engagement on his return from Aberdeen, where he was part of the Guyana delegation.
Others in Scotland for the event included President of the Georgetown Chambers of Commerce and Industry (GCCI), Nicholas Deygoo- Boyer and Director of the Environmental Protection Agency (EPA) Dr Vincent Adams.
Addressing members of the Guyanese media at Duke Lodge, Georgetown Guyana, Verwey said the $100M investment fund is geared at looking at the Guyana market in particular, for onshore related services and activities.
He explained that the initiative is in fact a partnership between the parties; Peter Hambro Limited and Dr Lei Wang, “who together launched an onshore fund.”
Announcing the Investment Fund, the GO-Invest CEO told reporters that over the four days the Guyana delegation managed to participate in several major networking events including one which was organised by the Energy Industry Council (EIC)—the trade association body representing companies in the energy sector across the United Kingdom (UK).
One such networking session according to Verwey, saw a presentation by the Guyana High Commissioner to the UK, Hamley Case and UK High Commissioner to Guyana, Greg Quinn.
According to Verwey, this activity connected members from the Guyana delegation with those EIC who attended the event.
He said there was in excess of 120 attendees present for the networking session and, “they were presented with an excellent overview and in-depth presentations of the Guyana current economic and social profile.”
Presentations were also made by Hannam Partners, a leading independent investment bank.
The fund was launched during the networking session.