A delegation from Guyana is in Houston, Texas, for the flagship Offshore Technology Conference (OTC) scheduled to be held from August 16 – 19 this year. OTC focuses on exchanging technical knowledge relevant to the development of offshore energy resources, primarily oil and natural gas.
The Guyana delegation includes Vice President, Bharrat Jagdeo, Minister of Natural Resources (MNR), Vickram Bharrat, Senior Petroleum Coordinator at MNR, Bobby Gossai Jr., Minister within the Ministry of Public Works, Deodat Indar, and Chief Executive Officer of the Guyana Office for Investment (GO-Invest), Dr. Peter Ramsaroop and his team. The private sector representatives include President of the Georgetown Chamber of Commerce and Industry (GCCI), Timothy Tucker, past President and Chairman of GCCI’s Petroleum Committee, Nicholas Deygoo-Boyer, other executive members, and representatives from several businesses.
“The Government of Guyana is looking forward to successful participation, engagements and heightened interests on the development of the energy sector,” Gossai Jr. said in a comment to OilNOW.
Over 9 billion barrels of oil equivalent resources have been found offshore Guyana since 2015 by U.S. oil major ExxonMobil and the company began producing oil in December 2019. To date, a total of three projects have been sanctioned with a fourth awaiting government approval and multiple other developments expected.
The rapid development of the oil and gas industry is already creating growing opportunities for local suppliers, even as the government is set to finalise a local content policy by year end. The GCCI has been at the forefront of advocating for local businesses building capacity and tapping into the opportunities the offshore exploration and production activities are creating.
“Most of the members are excited to participate in OTC because generally, they find that there’s great anticipation and opportunity for them to make linkages that can speed up partnerships for local businesses from Houston, and elsewhere,” Tucker said.
The GCCI President pointed out that around 12 companies from the Chamber will be part of the Guyana delegation this year.
“The GCCI has a number of meetings scheduled. I have at least 15 meetings or events that I have to attend,” he said. “We have meetings with the Greater Houston Partnership, we have meetings with the South Louisiana Economic Council to discuss missions on both sides and partnerships and collaborations with GCCI and then we’re also supposed to be meeting with API to discuss available training for members of the GCCI.”
Meanwhile, Deygoo-Boyer said Guyana’s participation at OTC this year is going to be monumental. “Firstly, we are making this trip during the COVID-19 pandemic, however, because of the importance of networking and learning more about the industry an overwhelming number of Guyanese companies are participating.”
He said he is expecting a significant number of MoUs and other business arrangements to be inked as a result of Guyanese companies settling into their areas within the industry.
“Guyana has the attention of the world and there are a number of international investors who are heading to Houston to specifically meet with Guyanese companies and to make investments into Guyana,” he said. “Therefore, it’s both the American Private Sector and International Private Sector that we will meet in Houston.”
OTC kicks off this evening with the Distinguished Achievement Awards Reception. The Opening General Session takes place on Monday where a dynamic group of industry leaders will examine the future of offshore energy. Topics to be discussed range from record low oil prices, lessons learned and recovery from the global COVID-19 pandemic, and the business of the energy transition.