Oil & gas knowledge must be spread across Guyana – lobby group
The need for information pertaining to the oil and gas industry was on Tuesday reinforced by the newly-established Guyana Oil and Gas Energy Chambers (GOGEC), which met with a Canadian expert on oil and gas.
GOGEC President Manniram Prashad, during his brief remarks at the consultation, touched on the goal of the Chambers as it related to the country’s future as an oil- and gas-producing nation.
From left: Canadian Executive Service Organisation (CESO) Consultant Cunyet Tirmandi and Guyana Oil and Gas Energy Chambers (GOGEC) President Manniram Prashad
He noted that emphasis must be placed on the importance of disseminating knowledge pertaining to the industry, as the sector will have an impact on Guyana as a whole.
The former Tourism Minister noted that ultimately, the standard of living of all Guyanese should be of outmost importance as the country neared a future which entailed the efficient and productive utilisation of oil and natural gas.
Meanwhile, Canadian Executive Service Organisation (CESO) Consultant Cunyet Tirmandi discussed extensively Guyana’s emerging oil and gas industry and what the production of oil and natural gas would mean to the entire country.
Tirmandi, a Turkish-Canadian and renowned classical musician of his time, addressed pressing issues pertaining to the Extractive Industry Transparency Initiative (EITI); the cost recovery and royalties important to oil-producing nations, and what would be the advantages and disadvantages if Guyana were to construct its very own oil refinery.
Tirmandi acknowledged, as experience would have it, the trend identifiable with some oil- and gas-producing nations was that focus on the nation’s other sectors, such as manufacturing and agriculture, would dramatically subside, leaving those sectors to suffer neglect, while too much focus was placed on oil and gas and the ‘Dutch Disease’ erupts.
It is based on that fact that Tirmandi said, out of his personal experience and knowledge, a sovereign wealth fund was needed in order to facilitate a secure and brighter economic future for generations to come.
The CESO Consultant’s advice appeared to have resonated well with those in attendance – entrepreneurs, concerned citizens as well as executives from major organisations.
