Since Guyana’s oil and gas industry emerged over the last nine years, there has been a notable shift in the frequency of conferences and seminars being held in the country—a change which has been a catalyst for an increased influx of potential investors.

Tomorrow, February 19, the Guyana Energy Conference and Supply Chain Expo will open at the Guyana Marriott Hotel. The conference is the rebranded International Energy Conference, which will be running for the third consecutive year. In 2023, the conference boasted 1,200 attendees, over 60 speakers, and more than 180 exhibitors. Many of the participants were international visitors hailing from a wide range of countries including, but not limited to, Belgium, the United States, Brazil, Canada, Colombia, Mexico, Germany, and several states in Africa and the Caribbean.

This year will feature some 200 exhibitors and hundreds of participants from 21 countries, including foreign Heads of State. While this conference is not the first of its kind in the country, the magnitude of these events has been increasing over the years. In 2018, the inaugural Guyana International Petroleum Summit and Exhibition was launched (GIPEX). That event saw 200 foreign participants and 30 foreign companies. There were over 210 international participating businesses the following year.

These numbers are not just reflective of an influx in travelers to the country, with economic benefits for tourism; they speak to a marked increase in investor interest in the nation. In fact, they have resulted in partnerships being formed between local and international companies. The inaugural GIPEX saw five partnerships being formed between local and international companies, and this continued in the conferences that followed.

The influx of foreign companies, attracted by the lucrative opportunities Guyana now offers, has ignited a surge in interest and investment, marking a new era of economic prosperity. These conferences are not merely events; they provide strategic platforms for local companies to forge critical partnerships and joint ventures with international entities, thereby bolstering the global integration of Guyana’s energy sector.

This week, under the theme ‘Fueling Transformation and Modernisation’, the Conference will underscore the supply chain’s critical role and the new avenues for local companies, facilitating unparalleled growth, collaboration, and global exposure. This thematic pivot is designed to showcase the symbiotic relationship between the burgeoning energy sector and the diverse elements of the supply chain, highlighting the mutual benefits of international co-operation and local empowerment.

With ExxonMobil as the titled sponsor for the third consecutive year, their unwavering support and commitment to local content development, international collaboration and sustainable community benefits, sets the stage for an event that promises not just to discuss the future of energy but to actively shape it.

Since the enactment of the Local Content Legislation in 2021, Guyana has witnessed significant milestones in integrating local companies into the oil and gas industry’s value chain. This legislation has been instrumental in amplifying the contributions of local entities to the sector’s development, catalysing job creation, technology transfer, and community development. The legislation’s success is evident in the flourishing partnerships and collaborations born out of industry conferences, which have become crucibles for innovation and growth, demonstrating the tangible benefits of prioritising local content in the sector’s expansion. Minister of Natural Resources, Vickram Bharrat stated that this week’s conference will build on this.

This assembly not only reflects the sector’s vibrancy but also signals the myriad opportunities awaiting local businesses, poised to leverage these platforms for expansive growth and international collaboration. The ability to attract such a vast and diverse array of participants reflects the confidence and enthusiasm the international community has for Guyana’s energy future, much of which can be credited to the country’s conducive business environment.