GOGEC signs MoU with Nigerian petroleum association

…expected to promote trade & knowledge transfer in energy sector

The Guyana Oil and Gas Energy Chamber (GOGEC) has signed a Memorandum of Understanding (MoU) with the Petroleum Technology Association of Nigeria (PETAN) to facilitate a collaboration that would lead to an exchange of information and sharing of resources between the two parties within the oil and gas sector.

This MoU was initiated in Houston, Texas during the Offshore Technology Conference (OTC 2022) and was recently consummated by GOGEC President Manniram Prashad and PETAN Executive Chairman Nik Odinuwe, accompanied by PETAN Vice Chairman Ranti Omole.
PETAN signed the MoU at the Pegasus Hotel during a visit to Guyana last week to finalise the document. According to a statement, PETAN’s aim is to bring together Nigerian oil and gas entrepreneurs to create a forum for the exchange of ideas with major operators and policymakers.
Meanwhile, GOGEC’s mission is to ensure that there are equal opportunities for all the operators and potential operators within the industry and promote trade, investment and knowledge transfer within the energy sector to all members and stakeholders.
Nigeria is the largest oil and gas producer in Africa. As of 2020, the country had the largest oil and gas reserve in the African region, with around 37 million barrels of crude oil and 5.5 billion cubic meters of gas.
It was only last month that in keeping with Guyana’s continued ability to attract investor interest, a group of African investors held meetings with President Dr Irfaan Ali and the Cabinet, where investment opportunities in a number of areas were discussed.
The meeting with the delegation, led by Benedict Peters, founder and Chief Executive Officer (CEO) of Nigeria’s largest oil production firm – Aiteo Group – took place at State House and featured a number of Government Ministers.
According to a statement from the Office of the President, the discussions “centred on business opportunities in Guyana in agriculture with a focus on sugar, rice, and aquaculture; natural resources, specifically in mining, onshore exploration, and a refinery; and housing development”.
President Ali was joined by the Senior Minister within the Office of the President with responsibility for Finance, Dr Ashni Singh; Foreign Affairs and International Cooperation Minister Hugh Todd and Agriculture Minister Zulfikar Mustapha.
Also present were Housing and Water Minister Collin Croal, Public Works Minister Juan Edghill, Natural Resources Minister Vickram Bharrat and Director of Projects at the Office of the President, Marcia Nadir-Sharma. (G3)