Local companies commend networking opportunities at GIPEX 2019
– Indigenous companies report business opportunities
– UG signs $459M MoU
GEORGETOWN, Guyana — November 22, 2019 — As day two of the Second Annual Guyana International Petroleum Exhibition (GIPEX) continued yesterday, November 21, at the Guyana Marriott Hotel, local companies have reported that they are benefiting from immense networking as well as business opportunities.
Additionally, the University of Guyana (UG) also signed a US$2.2 Million Memorandum of Understanding with Halliburton, which will see the University benefiting from laboratory equipment and teaching development.
Chief Executive Officer of Japarts and Source One, Terry Singh reported that based on the feedback from their participation last year, they opted to return to GIPEX 2019, and this has already proven to be a fruitful decision. Japarts supplies heavy industrial machinery, while the sister company, Source One, supplies safety products to the oil and gas industry.
“Last year, we were here and the event went well for us. We have had a great response and turn out in terms of our business,” he explained, adding that the companies have added more offerings to their products and services.
“These events definitely increase networking. Clients who are coming into Guyana can know which company has services that they’re requesting. Our presence here is very good for us; we will see a lot. Even now, from yesterday to now, we had almost 15 emails of request for supplies of different products we’re carrying and services,” Singh stated.
Meanwhile, Representative of Action Invest Caribbean Incorporated, Keon Smith shared that last year, at GIPEX, they benefited from major exposure to companies in the Oil and Gas industry, “and looking at the growth of the industry over the last year, the decision to participate in GIPEX was an easy decision.”
Indigenous company Arrow Oilfield Services Incorporated. reported that the company has reaped from its investment from day one of GIPEX. Director, Kavir Mahadeo explained that the country deals in industrial and commercial products and services.
“One of the highlights for us is we are a fully-owned and operated Guyanese company. Our workforce is local and everything we have done so far has been through the local capability,” he explained. While the company registered at the last moment, Mahadeo shared, “On the first day alone, I think it was worth the investment in being a part of GIPEX and I think we will do many more in years to come. We got a lot of networking with the help of Tier One contractors. We had a lot of the Tier One contractors passing by the booth,” Mahadeo said.
Noting that they received assistance from the Centre for Local Business Development and DAI, Mahadeo said, “We got a lot of help from DAI and CLBD; they helped make that connection between us and the Tier One Contractors so I think just those connections yesterday were a lot to take our business far into the future.”
Operations Manager of Atlantic JZ Energy, Lancelot Gordon, shared similar sentiments, saying, “We see GIPEX as not only a Guyanese but a global exhibition. There is no better place to showcase the goods and services that we offer to both the local industry and the emerging oil and gas industry; this is our first time at GIPEX.”
He praised the interactions they have had so far, saying, “There have been quite a few positive developments. We have met with guys like TechnipFMC, Schlumberger, Halliburton. Those are all key players in the oil operations here to come.”
GIPEX has been organised by Valiant Business Media in partnership with the Government of Guyana through the Department of Energy, Ministry of the Presidency with support from the Guyana Office for Investment. ExxonMobil Guyana is also once again the Strategic Partner for GIPEX 2019. Lead sponsors include CNOOC International, Hess Guyana and the Guyana Telephone and Telegraph Company Ltd.