To better service companies operating in Guyana’s oil and gas industry, National Oilwell Varco (NOV), a Houston, Texas-based oilfield services company has opened its first base facility at Plantation Rome, East Bank Demerara.
The grand ceremony on Thursday evening marked a momentous addition for the company which already has base facilities in 11 Latin American countries. President of the NOV Wellsite Services company, Mark Lapeyrouse said the intent of the company is to eventually become 100 per cent Guyanese operated.
“We have a small handful here now, we are growing it and we hope to do a lot more here and we will grow it with a very intelligent, hardworking workforce,” the NOV Wellsite President said.
He noted that the company is aware of the highly trained workforce that already exists here and it intends to expand on this.
Back in 2020, the company made its first trip to Guyana and has since provided worldclass services to ExxonMobil.
NOV brings its technical expertise and advanced equipment to enable the energy industry to safely produce energy and minimize the impact on the environment. This move is expected to greatly benefit the oil and gas industry by providing employment and better respond to the needs of the offshore facilities.
The company joins sister companies, the Guyana Shore Base Inc. where a thermal desorption treatment facility is and the Sustainable Environmental Solutions (SES), which also houses parts for NOV.
Lapeyrouse said an estimated US$4 million was invested into those parts. This base facility, rented from a local businessman, will store even more equipment.
Chief Executive Officer of the Guyana Office for Investment (Go-Invest), Dr. Peter Ramsaroop said the company has made a very profitable investment in moving to Guyana.
“If you look at Guyana’s market today from 2020 to 2023 and you said this is it, this is not even close.
“You haven’t heard of the monetization of gas yet, where Guyana will be in the near future and I believe companies that have bought the stock and are here in Guyana are way ahead of companies that are now thinking about it,” Dr. Ramsaroop said.
He also urged the company to find ways it can grow in the country by manufacturing its equipment locally. He said there is room for the major components to be produced in Guyana.
Meanwhile, Bobby Gosai Jr., the Senior Petroleum Coordinator at the Ministry of Natural Resources, said there will be massive growth of the country’s economy over the next seven years. For this reason, major investors such as NOV are welcomed, he said.
“The oil and gas that is produced in Guyana and the services and the products and the skills that are needed are world class and companies like NOV and their partners, need to have specailised skills.
“Having personnel here in Guyana trained and being able to man and manage these types of operations are very important to us. These types of activities are set out in the Local Content Law,” Gossai said.
He added that the law is not only a guide, but an enabler for growth in the industry and companies like NOV add significant value to the level of services Guyana provides. With the company’s base in Guyana, oil and gas companies do not have to worry about getting equipment and services elsewhere because it is readily available in the country.
