GO-Invest prepared to support business ventures in oil and gas sector

DPI, Guyana, Wednesday, November 20, 2019

With Guyana poised to begin oil production in a matter of months, the Guyana Office for Investment (GO-Invest) continues to work assiduously to ensure it can support business ventures within the oil and gas sector.  Chief Executive Officer (CEO) of GO-Invest, Owen Verwey has said as Guyana’s nears first oil, the agency has continuously tried to improve its capability in the sector. “We do recognise the challenges and are currently in the process of reviewing our operational structure, our roles, our capabilities and most importantly our strategies.”

He was at the time delivering brief remarks at the opening of 2nd Annual Guyana International Petroleum Business Summit and Exhibition (GIPEX 2019) on Wednesday at the Marriott Hotel.

According to Verwey, these strategies will ensure that the agency can adequately support business in this new era of Guyana’s economic development.

GO-Invest is an inaugural partner for GIPEX, and it seeks to foster relationships between local and international business with a mutual interest in the budding oil and gas industry. The GO-Invest CEO noted that the recurrence of this event is a positive indicator for the summit, which will become a clear major landmark of the industry in Guyana.

“Conferences such as GIPEX is a chance to bring together an elite group of specialists, experts within various areas from both inside and outside of Guyana, who represent oil and oil services companies,” Verwey said. Adding that GIPEX provides a platform for the local and international stakeholder to engage in discussions which will “ultimately lead to the formulation of recommendations and feasible solutions that aim to develop strategic interactive relationships.”

The CEO urged that these new ventures encourage local content and local benefit in the business development process. According to him, “it is a great source of acquiring local knowledge, avoiding the usual and unusual business development challenges, and will ensure locals benefit from the economic successes.”

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