Legislative and infrastructural changes to be made to facilitate development of oil and gas sector

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The government is receiving advice from international and Guyanese experts on the way forward in the oil and gas sector.

 

This is according to President David Granger, who was speaking on a special airing of “The Public Interest” today.

 

“We are in touch with all of the petroleum companies, just like the gold mining companies, I make it a point of duty to meet the mining companies when they visit this country, we obviously would have to make changes in legislation and there will be some physical and geographical changes,” the president informed.

 

 

He believes that the development of the capital towns would complement the offshore exploration, since persons would be able to go to these towns to conduct their business rather than travelling to the Georgetown.

 

In general, the Ministry of Natural Resources, the President noted is receiving quality advice and most importantly the Government has committed to and is receiving advice on setting up a Sovereign Wealth Fund, “so that it would be used prudently in coming years to ensure that the country is developed particularly our infrastructure, so that our children get a good education,” he highlighted.

 

 

President Granger said this is to ensure that when the oil runs out “we will have a happy population and a well developed infrastructure.”

 

 

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