WHEN oil was first discovered here, it was expected that Guyana would become the centre of attention; that its popularity would soar considerably, and everyone in the energy industry and affiliate sectors would want a piece of the action.

This happened at a faster rate than expected, but Guyana has been able to handle the attention and the pressure of oil wealth very well thus far.

The International Energy Conference and Expo is one of Guyana’s success stories. This locally-organised annual event creates a link between foreign investors and local businesses; it sets the stage for energy professionals from around the world to share their ideas, and offer advice, and for delegates and other participants to tackle the burning issues affecting the energy sector.

Mitigating climate change and local-content development are also among the issues discussed, as well as the role of each stakeholder in developing and protecting the sector.

The first conference attracted hundreds of persons. This year, the showing is much greater, and is likely to increase drastically in the coming years, as more oil discoveries are made.

According to the unofficial figures, over 1, 200 persons and over 60 local and international speakers have gathered at the Marriott Hotel for the event which concludes today.

Since the first staging of this event, many other oil discoveries have been made, resulting in a deepening interest in Guyana and what it has to offer. The numbers this year is evidence of this.
The ‘expo’ itself has so far attracted hundreds more. The curious, learners, and those interested in a career in oil and gas have been flocking the more than 180 booths, gathering all the information that they can.

This year’s theme, ‘Harnessing Energy for Development’, demonstrates the importance of energy security, and the role Guyana can play in achieving this.

Given the world’s many challenges, securing the amount of energy that is needed to sustain people’s lives and daily activities, while ensuring that it is affordable is paramount.

Guyana has already been described as a ‘model’ State for energy security, given its ready access to the requisite resources, and how said energy security can contribute to the region’s economic growth, political stability, and the overall development and security of other sectors such as agriculture and manufacturing.

According to Colombia’s former President, Iván Duque Márquez, Guyana’s rich and diverse resources have the potential to generate income that can help advance the region’s social and economic transformation.

It is clear that Guyana’s new-found wealth can be of great benefit to the Caribbean and Latin America.

However, the leaders have recognised that this nation cannot do it alone, and will need help to ensure that this can happen. Based on the utterances so far, there seems to be a high level of willingness to extend a helping hand.

Prime Minister of St. Vincent and the Grenadines, Dr. Ralph Gonsalves; Prime Minister of Trinidad and Tobago, Dr. Keith Rowley, and Guyana’s Foreign Secretary Robert Persaud have all stressed the need for collaboration to make this regional social and economic transformation that Duque speaks of work.

In Gonsalves’ case, he sees that as integral to ensuring that oil becomes a blessing and not a curse.

The rapid growth of energy demand brought about by economic expansion, population growth, new energy uses, and income growth makes energy security a pressing concern for every country in this world.

It is for this reason that countries have to put measures in place to ensure that their economies can function without disruptions in energy supply, while providing people with adequate, reliable, and affordable supplies of modern and clean energy.

Events such as the ongoing energy conference and expo not only lay out the blueprint for this, but also offer practical solutions to mistakes that might have been made along the way, and prepare us for what is to come.