Private sector officials to benefit from oil & gas consultation in Canada

As Guyana digs deep into the exploitation of its offshore petroleum reserves, Canada has opened its doors for a local delegation to participate in consultations at one of its largest oil and gas operations.
A high-level delegation of local private sector officials will this week embark on the second phase of a fact finding mission at St. John’s, Newfoundland and Labrador in Canada.
The one-week venture is being facilitated by the High Commission of Canada through its industry partners at St. John’s, and would allow for the exchange of practical insights of the province’s offshore oil and gas industry.
The team, which will be led by President of the Georgetown Chamber of Commerce & Industry (GCCI), Deodat Indar, comprises private sector officials Nicholas Boyer and Major General (rt’d) Normal McLean.
The trio will be engaged in discussions with government officials and industry associations such as the Canada-Newfoundland and Labrador Offshore Petroleum Board; St. John’s Board of Trade; the Departments of Tourism, Culture, Industry and Innovation, and Natural Resources; the Newfoundland and Labrador Oil and Gas Industry Association, along with a number of other organisations.
Adding to that, the week would facilitate high-level business-to-business meetings, site visits, and tours of facilities which include warehouses, supply bases, training facilities, so as to enable a better understanding of local content development, packaging, safety, and accounting systems.
The team is also slated to meet with representatives of academic institutions, including universities and technical institutes, to discuss areas of possible collaboration and technical assistance.
This marks the second such initiative as it is a follow-up to the Oil and Gas Trade Mission from St. John’s to Guyana in September 2017, which generated market synergies and opened areas for private sector engagement. However, this subsequent venture would allow for further sharing of information, networking, advancing earlier discussions, and providing a means for deepening bilateral trade between the two countries.
Given the presence of well-established oil and gas operations, Newfoundland and Labrador offer a wealth of experience from which Guyana can benefit, especially in the area of the oil and gas industry, which aided in the economic transformation of the provinces from their traditional fishery base to modern economies.
As such, the Guyanese private sector delegation has signalled an interest in the exchange of information in specific areas, such as local content, production, monitoring and accounting systems, safety systems, royalty systems which will be translated into the local petroleum sector.
Meanwhile, Canada has reassured Guyana that it remains committed to working with the Government and the Guyanese private sector to foster mutually beneficial partnerships and strategic alliances to develop the nascent oil and gas industry. This is as preparations are underway to commence extraction as early as 2020.