Guyanese will enjoy “great standard” of living from oil industry – House Speaker

…as new T&T engineering, contracting company opens in Guyana

“Our Guyanese society will ensure that we are going to enjoy a great standard of living which will be equivalent to first-world standard in a not-too-distant future.”
Those were the words of House Speaker Manzoor Nadir as he talked of the significant economic growth Guyana will gain from its booming oil and gas sector.
He was on Thursday making remarks at a ribbon-cutting ceremony to welcome Trinidad and Tobago-headquartered Asequith Engineering and Contracting Limited to Guyana.

Asequith’s Managing Director, Fayard Hosein

Asequith Guyana will be providing several services to the oil and gas sector, especially in the area of industrial safety equipment and supplies. Its showroom is at Lot 4 Cummings Street and North Road, Bourda, Georgetown.
Nadir told the company’s directors that they are entering into a highly competitive industry. But although this is the case, he posited that Guyana wants to create economic opportunities for companies within the Region and extra-regionally and to see them grow significantly.
Speaking to the skillset of locals, he shared, “Guyanese craft people craftspeople pride themselves in being among the best anywhere.” On this note, he warned the directors that this is not going to be a free ride for their company.
The House Speaker disclosed that when it comes to techvoc training and the skills for the oil and gas sector, Guyana has a significantly improved educational sector which is putting out several persons with certification. “So don’t come into Guyana feeling that it’s unprepared for where we are going. I would advise checking with the National Accreditation Council to see what we have…”
Nadir said that Guyana is looking forward to friendly competition.

Speaker of the National Assembly, Manzoor Nadir

Meanwhile, the company’s Managing Director Fayard Hosein said, “We would like to help build the local economy. We would like help to build the community around us. We would like to share with our experiences…We would like to share our knowledge [and] employ the local persons to be part and parcel of this,”
“One of the most paramount importance in the oil and gas industry is safety,” Hosein said, adding that Asequith Guyana will be one of the best safety supply stores in the country.
He, however, pointed out that this is just the first phase of many ventures the company will pursue in Guyana. Hosein disclosed that in Trinidad, the company does a lot of work in the oil and gas industry “we do a lot of work offshore and onshore.”

A section of the company’s showroom at Cummings Street and North Road, Bourda, Georgetown

According to him, phase two is a larger approach whereby the company will train and educate locals. He added, “We have welders, fabricators, fitters, craft personnel that we could educate and they can share their knowledge with the local content.”
“We can help with that development. We would like to demonstrate that to you,” he assured. While he is confident of the company’s abilities to deliver, Hosein said the company is looking to collaborate with local companies.
Asequith Engineering & Contracting Ltd is family-owned and has been in existence for some 25 years. (G1)