The Georgetown Chamber of Commerce and Industry (GCCI), the oldest private sector representative organisation in Guyana, will be the lead body responsible for the country’s participation at the Offshore Technology Conference (OTC) set to take place at the NRG Center, Houston, Texas on May 6-9, 2024. The Chamber will be taking over this crucial role from the Guyana Office for Investment (GO-Invest), representing the first time this initiative will be led exclusively by a private sector body in the oil-producing South American country.
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Speaking at a press conference on Monday, GCCI Senior Vice President, Richard Rambarran said over 100 local companies participated in OTC 2023. He pointed out that to date, more than 20 companies have benefited in a material way through collaborations with international companies from partnerships forged at the flagship event, the largest oil and gas conference in the world.
“We have seen in excess of 20 companies benefiting in a material way…material meaning an ongoing and continuous relationship,” Rambarran said. “You do have some larger ones that have been made public…[becoming] authorised distributors, [others] may have obtained a particular franchise etc.”
He said the business opportunities at OTC stretches beyond oil and gas with significant interest having been shown in the past, in other sectors of Guyana’s economy.
Chief Executive Officer of GO-Invest, Dr. Peter Ramsaroop disclosed that his agency has recorded deals with varying joint ventures amounting to “multimillion-dollar” investments, often in non-oil sectors.
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“Many companies that came to that conference are now in agriculture and in the service industry, logistics and supply chain management,” he explained. “They may have gone to the OTC looking for oil and gas clients but realise that their own supply chain is forgotten. So, they come looking for these private companies, and that is where we come in. We are able to bridge the gap between two.”
Since 1969, the OTC has served as a central hub convening energy professionals from around the world to share ideas and innovations, discuss, debate, and build consensus around the most pressing topics facing the offshore energy sector.
As the world transitions to a more sustainable and low-carbon future, OTC said no other event provides attendees with more diverse conversations focused on the latest developments needed to accelerate the global energy mix. Whether it’s oil and gas, solar, wind, hydrogen, and other marine resources, these conversations will be centered around the innovations that could help shift and drive the world’s energy mix.
