Guyana’s Minister of Natural Resources Raphael Trotman has described the task of preparing the country’s institutions and legislative frameworks for the oil and gas sector as “monumental.”
He was speaking last evening at the opening ceremony for the GTW Guyana 2017: Deepwater Exploration of the Columbus & Guiana Basins, a geosciences technology workshop organized by the American Association of Petroleum Geologists (AAPG) at the Marriott Hotel in Georgetown.
GTW Guyana 2017 will bring together the oil and gas industry’s top business leaders, academics and technical professionals from 17 countries across Europe and the Americas. It is said to be completely sold-out, with over 170 registered participants.
Trotman expressed his delight in learning that two of the AAPG’s areas of focus are youth and the environment which coincide with the Ministry of Natural Resources’ focus. He noted that the conference not only augurs well for members of the AAPG but also for the local officials in Guyana. He said that over the years Guyana’s has been known for its great potential and it is now time that this potential be realized.
Mr. Trotman made the point that when there is a thorough understanding of a basin’s geology and how it affects production this can guide resource planning and in this regard the conference will be beneficial for a furtherance of that understanding. However, he was quick to point out that it is not only about geological successes but economic and commercial successes as well in building an oil industry. “Given that Guyana’s reserves have been now derisked and discovered in a period of low oil prices, it is even more pertinent to ensure a thorough understanding of reservoir properties and be more diligent in learning all that it has to offer,” he said.
According to the organisers, GTW Guyana 2017 will feature thought-provoking keynotes and offer a platform for engaging sessions that will reflect on original ideas, theories and models and thoroughly evaluate the results of the recent exploration campaigns within the Columbus and Guiana Basins, referring to Guyana as the new deep water “Mecca” of the region.
