The Newfoundland and Labrador Oil & Gas Industries Association (NOIA), in partnership with the Atlantic Canada Opportunities Agency (ACOA) and the Department of Tourism, Culture, Industry and Innovation (TCII) are planning a trade mission to Guyana during the week of September 11-15.
According to NOIA, “the mission will include pre-mission preparation, an information session, networking reception and business to business (B2B) meetings with companies in the market.”
A number of companies and business groups have been expressing interest in collaborating with the Guyanese private sector for pursuing opportunities in the South American country’s emerging oil and gas sector.
US super-major, ExxonMobil, has made several oil discoveries offshore Guyana and recently secured a license from the government to proceed with production. The company and its partners operating in the Stabroek block, where the prolific Liza field is located, have since announced their final investment decisions and are proceeding full steam ahead for first oil in mid-2020. The current estimated recoverable oil stand at 2 to 2.5 billion barrels.
“This is a frontier area for oil & gas exploration and development and may pose a substantial export opportunity for companies currently active in the Newfoundland and Labrador supply and service sector,” NOIA said.
Officials from the Guyana Oil & Gas Association (GOGA) met with over 15 companies and interest groups in Canada last month, and a few weeks prior, a 25-member trade delegation from Trinidad & Tobago, representing over 40 companies, visited Guyana to explore opportunities in oil and gas, as well as several other sectors.