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Liza Destiny FPSO, Guyana's only offshore oil production facility (Photo: Hess Corp)

Guyana Gov’t urges local companies to get involved in gas and energy sector

Liza Destiny FPSO, Guyana's only offshore oil production facility (Photo: Hess Corp)

A senior government minister says nationals and local companies must be given an opportunity to benefit from the oil and gas industry in Guyana.

“I think it’s extremely commendable that Guyanese companies spotted an opportunity to innovate, to enter a space where Guyanese companies had hitherto not entered,” senior minister in the Office of the President with responsibility for finance, Dr Ashni Singh, told the launch of the US$10 million Sustainable Environmental Solutions Incorporated (SES) on Tuesday night. The venture will provide employment for at least 40 locals.

Dr Ashni Singh, senior minister in the Office of the President with responsibility for finance (Photo: For De Record)

The SES is a joint venture formed to manage ExxonMobil’s waste. Gaico Construction and General Services Incorporated (Gaico) has partnered with the internationally recognised Corena Group to form Gaico Corena Environmental Services. The entity has since partnered with Guyana Shore Base Incorporated.

Singh told the ceremony that the local companies had identified that there were technologies and skills that they did not have and had sought out a “credible international partner with a track record like Corena, engaged them, concluded a joint venture in the manner that you did, tendered, competed presumably with a significant number of other competitors.

“I think it’s extremely commendable that Guyanese companies spotted an opportunity to innovate, to enter a space where Guyanese companies had hitherto not entered,”

— Dr Ashni Singh, senior minister with responsibility for finance, Office of the President of Guyana

“I would imagine, compete for business with ExxonMobil, and win a 10-year contract with ExxonMobil to do this particular function. I think this is something for which you should all be commended and applauded,” Singh said, urging locals to follow the example of the consortium.

“It would have been easy for Guyanese companies to sit down and say we don’t have the technology to offer what ExxonMobil needs in this particular instance. We don’t, or we didn’t, as far as I’m aware, have the technology capable of processing waste in the manner that SES proposes to do until very recently.”

(Photo: businessinsider.com)

Singh said that the current generation is living in a period that will allow them to witness and participate in the most significant growth in Guyana’s history and that the country has already seen a steep uptick in the investment climate due to the policies implemented by the new administration since it came to office in August last year.

The SES is a joint venture formed to manage ExxonMobil’s waste. Gaico Construction and General Services Incorporated (Gaico) has partnered with the internationally-recognised Corena Group to form Gaico Corena Environmental Services. The entity has since partnered with Guyana Shore Base Incorporated.

Singh told the ceremony that the local companies had identified that there were technologies and skills that they did not have and had sought out a “credible international partner with a track record like Corena, engaged them, concluded a joint venture in the manner that you did, tendered, competed presumably with a significant number of other competitors.

Guyana Oil silos (File photo)

“I would imagine, compete for business with ExxonMobil, and win a 10 -year contract with ExxonMobil to do this particular function. I think this is something for which you should all be commended and applauded,” Singh said, urging locals to follow the example of the consortium.

“It would have been easy for Guyanese companies to sit down and say we don’t have the technology to offer what ExxonMobil needs in this particular instance. We don’t, or we didn’t, as far as I’m aware, have the technology capable of processing waste in the manner that SES proposes to do until very recently.”

Singh said that the current generation is living in a period that will allow them to witness and participate in the most significant growth in Guyana’s history and that the country has already seen a steep uptick in the investment climate due to the policies implemented by the new administration since it came to office in August last year.

— CMC