President commits to developing transparent and accountable oil and gas industry

DPI, GUYANA, Friday, December 15, 2017

President David Granger has committed to ensuring that there is integrity and transparency in all operations, within the oil and gas industry.

“I will do everything possible under the law to protect, to ensure the integrity of the government and the corporations”, the President said at a press conference he hosted today at the Ministry of the Presidency.

The President noted any reports of wrong doing against any public official will be acted upon immediately. “If any malfeasance is reported to me I will take the action to have it investigated and if there’re culprits the culprits will be subjected to the process of law,” he assured.

The government has “been very careful to ensure none of its officials are compromised” the President assured to questions posed by the local media. Additionally, he explained that steps are being taken to ensure a strong regulatory framework so that any breach of the laws, by corporation or government official, is brought before the courts.

Oil and gas is a new industry for Guyana and the President said the government has “been very cautious” in developing the necessary legislative and policy framework to govern the industry.

“Luckily, we have time to ensure not only legislation but also education that is necessary for the organisations at the government level, all of these are put in place. So, we will do everything possible to protect that industry to make sure our children could benefit from it”, President Granger reiterated.

The government has since developed several draft policies and legislation including the Local Content Policy, Petroleum Commission Bill and Sovereign Wealth Fund Bill. The Ministry of Natural Resources, who has oversight responsibility for the sector, is also overseeing the strengthening of existing environmental legislation while the Guyana Civil Defence Commission, is spearheading the development of a national oil response strategy.

While the President has an advisor on petroleum, the government has also benefited from advice and support from regional and international organisations and countries that work in the industry. Those include the Commonwealth, the United Nations Development Programme, the United States and Trinidad and Tobago.

By: Tiffny Rhodius