THE Guyana booth at the Offshore Technology Conference (OTC), the world’s largest oil-and-gas sector event, was officially opened on Monday by Natural Resources Minister Vickram Bharrat.
Minister Bharrat, who led the ribbon-cutting ceremony, was joined by Chief Executive Officer of GO-Invest Dr. Peter Ramsaroop; United States Ambassador to Guyana Sarah-Ann Lynch; and Honorary Consul General of Guyana Lutfi Hassan.
This is the third time Guyana is participating in the OTC conference. The four-day conference began today in Houston, Texas at the NRG Stadium, and concludes on Thursday.
According to a release, the Government of Guyana, through GO-Invest, has collaborated with several private sector organisations and businesses that formed the Guyana delegation attending OTC 2022. GO-Invest’s Head of Marketing, Research and Advocacy June Ann Kowlessar organised and coordinated the logistics on behalf of Guyana’s contingent attending the OTC.
The Guyanese contingent comprises Minister Bharrat; Foreign Secretary Robert Persaud; and Dr. Ramsaroop on the government side; associations, AMCHAM, GCCI, PSC, GMSA and private businesses GKB, GAICO, Guyana Logistics & Support Services, GOGEC, GYSBI, PRIEMEIR Insurance Inc, Express International Inc, GBTI, Atlantic Ventures Inc, NRG Holdings, New Hayven, Smart Infrastructure, International Energy Conference & Expo Guyana, ExxonMobil Guyana, and Halliburton. Over 80 participants are expected from Guyana and others from the diaspora.
The OTC’s flagship conference is held annually at NRG Park in Houston, the release said. It noted that the OTC is the world’s foremost event for the development of offshore resources, and displays leading-edge technology for offshore drilling, exploration, production and environmental protection.
The OTC is sponsored by 13 industry organisations and societies, which work cooperatively to develop the technical programme. The OTC also has endorsing and supporting organisations.
According to a release, participation at the OTC allows for Guyanese businesses to learn and seek partners in pursuit of emerging opportunities in the South American country. Participating at OTC will help Guyana to bring more of the supply chain opportunities to Guyana’s shores.
EDUCATION, CONNECTION, NETWORKING
A critical element of this mission is education, connection and networking. The conference has the attendance of energy professionals, engineers, executives, operators, scientists and managers from across the world and all fields in the offshore energy sector. Industry leaders will discuss licensing and business opportunities, as well as recently introduced technologies.
A number of related events are scheduled to maximise every opportunity to showcase and attract investment opportunities to Guyana, the release said. A Guyana Evening of Information Sharing and Networking, is scheduled to be held on Wednesday at the Asia Society Texas Center, sponsored by Exxon Mobil. Presentations will be made by the Minister of Natural Resources, Exxon Rep, US Ambassador to Guyana and the CEO of GO-Invest to headline the event. The Guyana Evening is an unpaid invitation-only event.
Some 300 representatives from various international and local companies are expected to be in attendance to meet with the Guyanese delegation. The event will see participants from both the public and private sectors using the opportunity to network and develop relationships with key persons within the industry to attract investment primarily to Guyana’s oil and gas and services sectors and establish and develop crucial partnerships.
The Memorandum of Understanding (MoU) is expected to be signed among various companies to forge ties in their commitment to build mutual partnerships and transform creative and innovative ideas to capitalise on the investment opportunities landscape.
SIGNING OF AGREEMENT
On May 02, the Airport Signing Agreement between the Houston Airport System and the Cooperative Republic of Guyana represented by Chief Executive Officer of Cheddi Jagan International Airport, Ramesh Ghir is slated to take place.
On May 03, the signing of a MoU between Euro Circuit Technologies SDN BHD and local Guyanese joint venture partner PCPG Inc is scheduled. In attendance will be the Ministry of Foreign Affairs led by Foreign Secretary, Robert Persaud and the Embassy of Malaysia.
Minister Bharrat will be featured at James A. Baker III Hall, Rice University, where he will deliver a key note address on Guyana: perspectives on energy policy.
Following, also on Tuesday, the minister will lead a feature on the “Around the World Series Panel Discussion on Promoting Investment for Guyana’s Petroleum Sector Through Beneficial Local Content Goals: Maximising Business Opportunities and Profitability. With the enactment of the Local Content Law, Guyana is ensuring that businesses benefit from the opportunities that are developing from the petroleum economy.
Through the establishment of institutions and regulatory frameworks, the Guyanese economy is the optimal destination for beneficial investment in the oil and gas supply chain for Latin America and Caribbean region. The panel will be moderated by Economist and Executive Director of the Georgetown Chamber of Commerce and Industry, Richard Rambarran and supporting speakers are Senior Petroleum Coordinator, Petroleum Management Programme, Gopnauth Bobby Gossai, Jr.; Director, Local Content Secretariat, Martin Pertab; Alistair Routledge, President of ExxonMobil Guyana; Managing Director, Environmental Management Consultants, Shyam Nokta; Director for NRG Holdings Inc., Nicholas Deygoo and Zulfikar Ally, Minister Counselor / Deputy Ambassador, Embassy of Guyana
Later, on May 04, Minister Bharrat, Dr. Ramsaroop and Ambassador Lynch will be making their feature addresses at the boardroom session, Ambassador Insight Series.
Dr. Ramsaroop explained that OTC provides the opportunity for companies to develop business relationships and tap into emerging regions that are vital to offshore development. Guyana has unmatched success with more than 11 per cent of the world’s recent oil discoveries from Guyana. Guyana is not hitching on the bandwagon of the Oil and Gas Sector alone, but is also marketing its traditional sectors, agriculture, tourism, ICT, manufacturing and services sectors.
This year, the country has a few new companies on board representing an array of diversified sectors,
“We have the banking sector, insurance, logistics and support services. We are all here to market our beautiful Guyana in support of our President’s One Guyana initiative. Guyana is the place to be, we are the region’s most exciting investment destination and we are inviting everyone to be part of our transformative growth,” Dr. Ramsaroop said.