Guyana’s Natural Resources Minister, Vickram Bharrat, has charged locals to enhance their skills and build capacity to increase their eligibility to reap the many benefits from the oil and gas sector.
He made these comments while delivering his keynote address to the virtually held Oil and Gas – Training, Skill Development and Employment event hosted by the Indo-Caribbean Society on Friday.
“I urge you today, to enhance your skills and build your capacity to increase your eligibility; establish partnerships and learn from each other; and be innovative,” the minister said.
In highlighting Guyana’s oil and gas prospects, Minister Bharrat outlined that the country has had a “steep learning curve” as a newcomer to the oil and gas producing scene.
After a year of production, the Liza Destiny has achieved its nameplate capacity of 126,000 barrels of oil per day, and the Liza Unity, for the Liza Phase 2 Project, is expected to commence production in the first half of 2022.
And by 2027, Guyana will have at least seven (7) Floating Production Storage and Offloading (FPSO) vessels, showing clearly that Guyana is “open for business,” he said.
Considering the aforementioned, the minister said that Guyana is “ripe with opportunity” as plans are afoot to develop the skills and private sector capacity so Guyana can benefit the most from the sector.
“This fast-paced trajectory of the sector has driven significant private sector investment in our economy. New businesses offering specialised services have emerged operating under international standards.
“The nature of the oil and gas sector creates the opportunity for many specialised or niche service companies to support their operations. As such, the Government of Guyana recognises the importance of private investment in driving the growth of this emerging sector,” he continued.
He said what Guyana needs to meet those growing demands for skills and services is a private sector that is driven by “innovation, ambition, and a passion for excellence.”
He mentioned Guyana’s draft local content policy which he said promotes backward, forward, and lateral linkages to optimise the value created by the resources of the oil and gas sector.
“So I want to encourage our professionals today to hone their skills and continue to pursue professional development. Our country and the world at large are changing at great speed and it is imperative that we prepare ourselves to conquer the challenges and demands that will arise,” the Minister said.
For the reader’s knowledge, backward linkages are those created by the commercial relations between oil operators and their supply chains, which include the transfer of technology and know-how, employment of nationals, and sourcing local goods and services