Oil and Gas: Over a dozen Canada/Guyana business partnerships already formed
Canadian companies with vast experience in providing goods and services to the oil and gas industry are teaming up with local companies as Guyana races towards oil production early next year.
On its third trade mission to Guyana, the Newfoundland and Labrador Oil & Gas Industries Association (NOIA) of Canada on Monday evening signed a Memorandum of Understanding with the Georgetown Chamber of Commerce and Industry (GCCI).
Members of the Canadian association are in Guyana from October 21-25; they are being facilitated with the support of the Atlantic Canada Opportunities Agency (ACOA) and Canada’s Department of Tourism, Culture, Industry and Innovation (TCII).
The MoU was signed at a reception held at the Umana Yana with stakeholders from Guyana’s Department of Energy, the Private Sector Commission, Guyana Office for Investment and other members of the local business community.
Chairman for NOIA, Mark Collett said the association has already established a few business partnerships with Guyanese companies and that a number of Guyanese entrepreneurs have also travelled to Canada on similar trade missions.
“Our members have already established exceptional relationships – in fact over a dozen Atlantic Canadian companies now have partnerships with Guyanese companies through MoUs and joint ventures – many as a direct result of our first two trade missions here,” Collett said.
The NOIA has 25 years of work experience; Collett said they are prepared to share their experiences in the oil and gas industry with Guyana.
“During this time our members have built competitive businesses at home’ these companies now not only support our local industry but are exporting their expertise globally.
“Today our business community is ready to play the role of international partner here in your home to share with you what we have learnt.”
Collett further noted: “There is a great potential for the Guyanese offshore oil and gas industry and I feel through a collaborative approach, the sharing of experiences we can help you build an industry that will make Guyana a global leader.”
Meanwhile, Senior Vice President for GCCI, Timothy Tucker said the Chamber’s primary objective is to connect local businesses with foreign companies.
“The GCCI is the largest and most represented business network and we are recognized for our thoughtful and assertive advocacy on local business,” Tucker said.
Tucker noted that the GCCI has engaged a number of Government and policymakers about regulations and legislation that impact the oil and gas industry.
The GCCI has been facilitating lectures and seminars aimed at empowering Guyanese businesses to become involved in the oil and gas industry.
In 2017, a high-level private sector delegation representing the GCCI travelled to Canada where an MoU was signed between GCCI and NOIA Environmental Association to provide cooperation and support to clean technology, environment and the green economy.