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Guyana to host second petroleum business summit

The second annual Guyana Petroleum Business summit (GIPEX) will be held in Guyana next month as the country prepares for oil production in the first quarter of 2020.

Guyana is preparing for oil production in early 2020. (Photo: stabroeknews)

The event, scheduled for November 20 to 22, is aimed at promoting the country’s budding petroleum sector.

Director of the Department of Energy, Dr Mark Bynoe stated that GIPEX provides the opportunity to establish “partnerships, alliances, associations and joint ventures.”

“About more than 85% of the exhibition space has already been allocated and we have had to add another pavilion this year purely based on the interest.”

According to the Energy Director, this is an exciting time because as the country seeks “foreign direct investment that can both expand job opportunities, investment opportunities and further economic growth for our country, we continue to seek to ensure that the private sector is integrally involved in everything that we do.”

“GIPEX 2019 will be an event that has accommodation not only for international partners but also for partners from the region and nationally,” Bynoe added.

Director of the Department of Energy, Dr Mark Bynoe

Adding to that, Valiant Business Media Managing Director, Shariq AbdulHai explained that the exhibition aims to provide a platform for both local and international to showcase their services to a global audience.

“We are literally a month away from the event… about more than 85% of the exhibition space has already been allocated and we have had to add another pavilion this year purely based on the interest.”

ExxonMobil Guyana is the Strategic Partner for the event. (Photo: ExxonMobil Guyana)

He also noted that there has been collaboration with the Georgetown Chambers of Commerce and Industry and have been subsidising rates for local companies.

It was highlighted that once again, ExxonMobil Guyana is the Strategic Partner for the event.

Valiant Business is working on the summit in collaboration with the Department of Energy.

Over the three days, there will be presentations, seminars and interactive exhibition focused on health, safety and environment, sustainable management the industry and incorporating Guyana’s Green initiative into its development.

In 2018, GIPEX saw global participation from 600 delegates and 200 international and national oil and gas companies.