Saturday, November 26, 2022

Local companies ink deal to serve Guyana, Suriname upstream sector

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Local companies are positioning themselves to reap the benefits from Guyana’s burgeoning petroleum sector, even extending their reach to neighboring Suriname.

The latest to do this is Demerara Contractors and Engineers Limited (DCEL) and AGT Energy Group Inc. (AGT). The two announced on Friday that they inked a Memorandum of Understanding (MOU) with Universal Plant Services (UPS) to serve Guyana and Suriname upstream and energy sector.

The MOU was signed by Kerry Fisher, Regional Vice President of UPS, Ramesh Persaud, Managing Director of Demerara Distillers Limited (DDL) and, Danny Balkissoon, Managing Director of AGT Energy Group Inc. at DCEL’s Providence, East Bank Demerara office on Thursday last.

UPS, Jones Industrial Holdings company based in the United States (US), provides world-class integrated specialty services designed to maximize the performance of critical energy assets. As one of North America’s largest comprehensive specialty service providers, UPS also provides construction and maintenance, repair, and installation services for rotating, fixed, reciprocating, and electrical equipment to the refining, petrochemical, power generation, and offshore industries.

A release on Friday outlined that with the MOU signed, the UPS will now provide maintenance, repair, and installation services for rotating, fixed, reciprocating, and electrical equipment to support the energy sector in the two countries.

“The companies are engaged to provide services to multinational companies to support all services associated with the upstream sector in Guyana and Suriname, both offshore and Onshore,” the release noted, adding that the team will work to support ExxonMobil’s offshore refining interests in Guyana.

“UPS is honored to enter into this agreement with DCEL and AGT Energy Group and begin work in Guyana. We understand the importance of Guyana’s oil and gas sector to the growth of the country and its people and recognize the significance this particular refining project will have on both,” said Kerry Fisher, Regional Vice President of UPS.

He added, “We’ve successfully completed projects all over the world, and we’re excited to bring our expertise and passion to this project, as well as to the people of Guyana.”

Darren Debidden, Oil and Gas Consultant for DCEL commenting on the signing relayed that UPS has an “extensive track record” as a trusted service provider to ExxonMobil.  He said, “We’re confident that experience, along with their reputation for training and community involvement, will be beneficial for this project. We’re confident UPS is the right partner who will be dedicated not only to the success of the project but to Guyana and its people as well”.

Additionally, Ramesh Persaud, Managing Director of DDL, the parent company of DCEL, he said, “we’re happy to be having this agreement with UPS so that we can advance our business within the area of the oil and gas support sector.”

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