Guyana engaging Regional stakeholders on oil and gas at CARVIS

-continues to prepare to capitalise on the sector

-says Minister Bharrat as he delivers President’s address

“Guyana is preparing and transitioning for one of the most momentous occurrences in its economic history – the emerging oil and gas sector.  This preparation required the building of human and institutional capacity, crafting and agreeing to some critical policy and legal measures.

Today’s comments came from Minister of Natural Resources, Hon. Vickram Bharrat, who delivered the keynote address of His Excellency, Dr. Mohamed Irfaan Ali at the opening session of the inaugural Caribbean Virtual Oil and Gas Summit 2020 (CARIVS). 

The core objective of the three-day summit is to provide a platform for the exchange of industry-related information and perspectives among stakeholders within the Region with a well-developed oil and gas sector and those with budding industries. It will also allow participants to discuss and explore promising opportunities in emerging oil and gas industries in Guyana, Trinidad and Tobago, Barbados, Suriname and The Bahamas.

Coming amidst the COVID-19 pandemic Minister Bharrat said the Summit was testimony that “humankind has once again proven its ability to persevere and thrive through innovation.”

“Now more than ever, we must think about ways of overcoming individual challenges in this sector and by extension, explore ways of collaboration and possible cooperation with potential opportunities for investment and technical assistance,” he said.

The Minister emphasised the need for greater capacity building, raising of standards, and knowledge transfer. As such, the Administration continues to implement various policies, legal and technical initiatives aimed at streamlining operations within the sector.

“In managing this sector, this new and vibrant industry, our Government remains cognisant that Guyana’s oil and gas sector is expected to be catalytic and pivotal in transforming our economy, our lives, and our future – nationally, regionally and internationally,” Minister Bharrat said.

The Government has already moved to implement measures aimed at ensuring Guyanese benefit from this budding industry.  President of the Georgetown Chamber of Commerce and Industry (GCCI), Mr. Nicholas Boyer in his remarks, welcomed the initiative which, he noted, will strengthen Private Sector participation within the oil and gas sector.