GCCI Senior Vice President Gavin Ramsoondar said Guyanese companies seeking opportunities in the oil and gas sector must improve their internal systems and operational readiness.
Ramsoondar made the comments following the Offshore Technology Conference (OTC) 2026 in Houston, Texas.
“One of GCCI’s key roles is helping businesses become investment-ready and bankable. It is not enough to simply say there are opportunities in oil and gas. Businesses must also have proper governance structures, financial systems, compliance standards and operational readiness,” Ramsoondar explained.
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He said international firms are assessing potential local partnerships in Guyana.
“One thing that became very clear is that international companies are not only looking for market access — they are looking for capable and reliable local partners,” Ramsoondar stated.
Ramsoondar also addressed the role of financing for companies seeking larger projects.
“Access to financing is especially critical for local businesses that want to expand capacity, acquire equipment, improve standards or pursue larger contracts within the energy sector,” he noted.
He said banking and financial services will also play a role in supporting economic activity tied to the sector.
“The growth of the banking and financial services sector is extremely important because economic expansion cannot happen without access to financing and financial support systems,” Ramsoondar said.
Ramsoondar referenced the participation of Guyana Bank for Trade and Industry (GBTI) within the GCCI delegation at OTC 2026.
“One of the encouraging signs at OTC was seeing institutions such as GBTI participating as part of the GCCI delegation,” he stated. “It demonstrates that Guyanese financial institutions are positioning themselves to support the country’s economic transformation.”
He also spoke about the wider support systems required for oil and gas activities.
“The reality is that the oil and gas sector cannot grow in isolation,” Ramsoondar cautioned. “Banks, insurance companies, accounting firms, legal services, logistics providers and small businesses all have to evolve together if Guyana is to fully maximize the benefits of this transformation.”
