The Guyana Oil and Gas Energy Chamber (GOGEC) has hailed the recently concluded International Energy Conference and Expo a major success, noting the diverse participation and opportunities provided to local businesses. Now that the conference has ended, however, the Chamber has emphasised that Guyanese must now take the necessary actions to exploit all of the emerging opportunities in the nascent oil and gas industry.
See full press release from GOGEC below:
Guyana’s inaugural energy conference and exhibition – a four-day event held at the Marriot, was a grand success and the organizers and all the stakeholders must be commended for this successful event.
For the first time in history, Guyana hosted a number of high-profile dignitaries in one event aimed at achieving a common goal and a win-win for all stakeholders involved: namely, the President of Ghana, the President of Suriname, the Prime Minister of Barbados, and the Chairman & CEO of ExxonMobil.
GOGEC is of the view that the event was a grand success and the real work has now begun, for more reasons than one. To this end, the mere fact that the event attracted the attendance of so many high-profile dignitaries as previously stated, this is a demonstration of the regional and global importance of Guyana on several fronts especially in the areas of international trade and investment opportunities for both local, regional and foreign investors from across the globe.
The event was well attended by local businesses, regional and international firms and wherein the event became a platform for the formation of new partnerships among local and foreign companies to form synergies, sharing of resources and capabilities, improve competitiveness and building capacity to meet the growing demand of goods and services in the sector.
More partnerships with local companies ultimately mean more jobs will be created for the local workforce. This also means that there will be greater competition for a skilled labour force, which is likely to incentivize persons to get themselves suitably qualified to enhance their own competitiveness in the job market.
GOGEC wishes to congratulate ExxonMobil’s Chairman & CEO, Mr. Darren Woods, who attended Guyana’s inaugural energy conference earlier this week, for his company’s sterling contributions to Guyana’s development and the company’s role in Guyana’s economic transformation and development trajectory.
More importantly, GOGEC supports the accelerated production in Guyana where the Chairman stated that by 2027 the company anticipates the company producing from six projects and another four by the end of the decade, thereby increasing daily production to in excess of one million barrels per day. To date, ExxonMobil has about 20 profitable oil discoveries offshore Guyana with much greater success expected in the future.
GOGEC is also happy to hear of ExxonMobil’s renewed commitment to further advancing local content in Guyana.
In view of these revelations by the oil major’s Chairman and CEO, GOGEC wishes to highlight the importance of Guyanese businesses and individuals needing to take action now to quickly ready themselves to exploit the opportunities that will be driven by the oil and gas sector.
Guyana is on a path of rapid expansion and development where there will be a plethora of opportunities for all stakeholders and ultimately improving the quality of life and standard of living of our people. Guyana is well positioned to move from a lower-middle income country to a high-income country.