…Trotman underscores importance of time-honoured policies

AS Guyana prepares to host a major petroleum summit next month, Minister of Natural Resources, Raphael Trotman, has emphasised the importance of policies preceding legislation in the sector.

Trotman was speaking on Wednesday afternoon at the launch of the Guyana International Petroleum Business Summit (GIPEX 2018) which is slated to be held from February 7 -9 at the Georgetown Marriott Hotel. According to Trotman, Guyana will reach its intended goals as regards development of the petroleum sector with the relevant systems in place. To this end, he cited the importance of policies which he noted transition over time into legislation.
The gathering on Wednesday included Minister of Business , Dominic Gaskin ; Head of the Guyana Office for Investment (Go-Invest) , Owen Verwey ; Exxon Mobil’s Country Manager , Rod Henson and Managing-Director of Valient Business Media UK , Shariq Abdulhai .

Trotman said that in record time the country has moved from discovery to production as he noted the timeline from 2015 to 2020, when production is expected to commence. He said that GIPEX2018 provides an opportunity for businesses here in Guyana to meet top global business counterparts, noting that the Ministry of Natural Resources had sought the assistance of GO-Invest and the Ministry of Business to headline organising of the event on behalf of the government.

Minister Gaskin noted that once the event next month is properly organised, it can prove beneficial to a number of stakeholders and Guyana in general. He cited the event as major, one which can be used to promote Guyana as an emerging oil- and-gas producer. He said it is also an opportunity for the business sector and the government to work together to showcase Guyana as a business destination, one where things are happening, where investors are welcome and where a bright future is in store.

Gaskin said that there are a number interventions and measures which are being put in place to ensure that the citizenry are the main beneficiaries of “all that is taking place offshore.” He said that the oil discoveries augurs well for the future of the country’s economy, as he cautioned that not everyone “sees this.” Gaskin said however that indeed there are pitfalls in the industry globally. ”I think we have learned a lot from the mistakes of others; we don’t intend to make those mistakes,” he said.

Gaskin said he is always happy when international events take place here , noting that it increases visitor arrivals and bodes well for the tourism sector.

Valient Media is an initiator of the summit and its Managing- Director , Shariq Abdulhai noted that the key idea of GIPEX 2018 is to support the petroleum industry here by bringing a group of international participants who will have discussions with the local businesses here and for them to be able to explore opportunities for joint ventures.

He said more than 50 international and local companies and that around 350-400 senior executives from companies are expected to participate in the event. “I think the importance of this summit lies in the fact that the Guyanese petroleum sector is on its way to becoming the mainstay of the national economy here in the coming years,” he noted.
Meanwhile, Verwey noted that as an organiser of the event, the aim of GO-Invest is to ensure the event brings benefits to Guyana and to ensure that businesses are involved. He said that there are many local partners which are involved in organisation of the event as he expressed appreciation to the Natural Resources Ministry for providing his entity with the lead role it is playing on behalf of the government, in organising the event.

Henson noted that Exxon is proud to be a partner of the event, as he cited its role in the country’s evolving petroleum sector. The three-day summit will see presentations , seminars and interactive exhibitions focused on health , safety and the environment .There will also be presentations and panel discussions with participants from oil companies including ExxonMobil, CGX , Total SA, as well as the regulatory body, the Guyana Geology and Mines Commission (GGMC) among others. On the last day of the event , the summit will be open to the public , from 1400hrs to 1800hrs.