Local company part of US$5M investment to manufacture, repair oil equipment

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Local company Atlantic Marines Supplies has joined with the internationally recognised oilfield service – NTS Group – in a US $5 million investment to manufacture and repair equipment that will be used in oil exploration and production offshore Guyana.

The joint venture between the two companies, known as NTS Amega Atlantic Guyana, opened their warehouse at Houston on the East Bank of Demerara on Wednesday night.

Operations Manager of Atlantic Marines Supplies Lancelot Gordon told the News Room that the company was interested in forming synergies with international companies that have the requisite ‘know-how’ that will allow them to serve the oil and gas industry.

Since 2007, Atlantic Marines Supplies has focused on serving the marine and mining industry. After the discovery of oil in 2015, however, the company began transitioning towards oil and gas services.

Operations Manager of Atlantic Marines Supplies Lancelot Gordon (Photo: News Room/ February 16, 2022)

The newly-launched partnership will be providing precision manufacturing and repair services for the equipment used in the oil and gas sector including downhole tools and other specialised welding needs.

“It’s a lot of stuff that happens behind the scenes of what takes place offshore.

“It’s all new to Guyana,” Gordon emphasised.

When asked about the size of the investment made, the Operations Manager said that it was “well over US $5 million”; it is expected that about 25 employees will be hired.

Because the services offered require technical competencies, Gordon explained that overseas technicians, machinists and welders are working at the site.

He, however, pointed out that the aim of the joint venture is to facilitate a transfer of skills to Guyanese so that in a few years’ time, the services will be provided exclusively by competent Guyanese.

President Dr Irfaan Ali

“What is happening here is a lot of technical work that requires precision so a lot of Guyanese are going to have the opportunity to go overseas and get skills,” he said.

Already, he said that several Guyanese have applied for apprenticeships with the company. When a final list of Guyanese has been enlisted, they will be able to get the requisite training overseas.

And Gordon said, “They will have a chance to come back and offer their services and skills to the local business sector.”

President Dr. Irfaan Ali attended the company’s launch on Wednesday night and lauded the investment made.

“Machining and fabrication is an integral part of the oil and gas sector and these investments in these areas would catalyst growth and investments in a number of other ways

“These are the types of investments that would change the skill set of our human resource base,” the President posited.

Though the company is servicing the oil and gas sector, the President noted that there is a wider scope for expansion. He provided the example of manufacturing and repairing equipment for cruise ships that frequent the Caribbean region.

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