While the South American country of Guyana is set to earn billions of US dollars from development of its oil resources in the coming years, Director of the country’s Department of Energy (DE), Dr. Mark Bynoe says the full benefits from oil and gas will be realized from building the capacity of Guyanese.
Speaking on the sidelines of the Guyana International Petroleum Exhibition and Summit (GIPEX) on Thursday, Dr. Bynoe said DE applauds those companies that are operating in the country which have initiated programmes geared towards development of human capital.
He said DE has been having multiple discussions with these companies on how they can assist Guyana in building its capacity for the oil and gas sector, and even beyond.
“We do believe as we continue to grapple with discussions around local content, enhancing capacities and ensuring that Guyana will be able to retain a substantial portion of the oil revenues, that companies will continue to be able to demonstrate commitment to human development. It is not just about monies that are earned but also knowledge that is transferred and technologies that are shared,” he stated.
The University of Guyana’s (UG) Faculty of Engineering and Technology on Thursday signed a Memorandum of Understanding (MoU) with Halliburton, one of ExxonMobil’s Prime Contractors, which will see the University benefiting from US$2.2 million for laboratory equipment, staff development and software support, among other things.
Dr. Bynoe was at the time speaking at the MoU signing in the GIPEX media Room.
