Canadians partner with Guyanese in oil and gas sector

Sep 12, 2017 News

The High Commission of Canada is collaborating with the Newfoundland and Labrador Oil and Gas Industry Association (NOIA) and the Guyana Office for Investment (GO-Invest) to bring a Canadian oil and gas trade mission of approximately 25 entities from Canada’s offshore oil and gas industry to Guyana. The mission came yesterday and will be active through Thursday.
Canadian companies are reportedly hoping to leverage partnerships with appropriate Guyanese businesses, and work with them to access opportunities in the oil and gas sector.
Guyana presents world-class, deep-water petroleum prospects which offer business opportunities that align with Newfoundland and Labrador’s petroleum expertise and experience.
The development of potential partnerships between the two jurisdictions could serve to build strong business relationships, transfer technology, and skills development to support the growth of Guyana’s offshore oil and gas industry.
Newfoundland companies have been servicing Floating Production Storage and offloading units (FPSO) for over 15 years.
The Canadian High Commission said that the experience of Newfoundland can be a great potential resource to Guyana in developing its offshore industry through working with experienced partners (Government and private sector), suppliers and service companies.
The High Commission said that the trade mission will expose Canadian companies to the market opportunities, investment regime and qualified local companies.
“The local support for the trade mission has been overwhelming. This highlights the willingness of Guyanese to partner with Canadians, which is largely due to the Canadian model of leveraging local partnerships through building partners’ capabilities to access together the opportunities in this nascent sector.”