Two companies, which claim broad expert experience, have teamed up to offer logistic solutions and support services to international operators in the oil and gas sector locally, saying they have already invested US$18 million in their operations at Craig, East Bank Demerara.
The two companies are Consolidated Supply Management (CSM) and Danco Logistical Contractors Inc (Danco).
The merger has been in the making for the past 12 months and was officially introduced to the media at a press conference held Tuesday at the Ramada Hotel on the East Bank of Demerara.
CSM was incorporated under the laws of England and Wales with the registered office which is situated at The Apex, 2 Sheriff’s Orchard, Coventry, UK.
Danco is a company incorporated in Guyana, the registered office which is situated at 233-235 Buzz Bee Dam, Craig, East Bank, Demerara.
The companies are constructing a 1200 sq meter bond in the village of Craig, where they say US$50 million in business will be done on an annual basis. Construction is expected to be completed by the first quarter of next year.
The companies said over 300 jobs will be created.
Danco will be the local operator for CSM, which will see all operations being controlled from the Craig Facility.
Eusi Anderson, Principal of GSM-Danco, said the goal of the project is to have communities like Craig benefit from the oil and gas Industry and have a positive impact on the lives of other Guyanese.
“CSM-Danco in Guyana is to provide logistic services to support the oil and gas industry and exploration, basically the logistic we’re are talking about is the movement of equipment, materials and supplies that are required into the operations.
“We’re talking pipes, casing, mats, chemicals, cement as well as the accessories that are needed for drilling,” said Alberto De Losada, another official of the venture.
President of Danco, Danny Ramnarain said his duty is to provide the local know-how and also to provide a Guyanese workforce to ensure the smooth running of the operations when it begins.
The company will be working on a programme-to-programme basis, which means depending on the number of programs being handled by the company there is an opportunity for even more employment for the Guyanese workforce.
CSM-DANCO will have its shore base facility at the Guyana National Shipping Company wharf.