AS opportunities in Guyana’s burgeoning oil and gas industry continue to grow, the Georgetown Chamber of Commerce and Industry (GCCI) brought together industry leaders and local entrepreneurs on Thursday for its inaugural Energy Luncheon. The event, organised by the Chamber’s Petroleum Committee, focused on unlocking prospects for local businesses within the lucrative sector.

Kathy Smith, Senior Vice President of the GCCI and Chairperson of the Petroleum Committee, highlighted the Chamber’s role in facilitating these vital conversations. She noted that the discovery of significant oil reserves has created new pathways for economic growth, jobs, and development in Guyana. However, she cautioned that the industry’s growth must be balanced with environmental sustainability and social responsibility.
“The discovery and development of significant oil reserves have opened up new avenues for economic growth and prosperity for our nation,” Smith stated. “This industry has the potential to uplift the lives of our citizens, create new jobs, and enhance our overall development. But we must balance this growth with environmental sustainability and the well-being of our communities.”

During the luncheon, GCCI President, Kester Hutson, unveiled the 2024 edition of the Business Guyana Magazine, themed ‘Transforming Guyana’. Hutson outlined key topics within the publication, including E-Commerce, digitalisation, financing, improving standards, compliance, and marketing, all of which are crucial for local businesses aiming to thrive in the evolving economy.

“The information we provide is vital for local businesses. The GCCI is committed to fostering a resilient business ecosystem that can withstand the test of time,” Hutson said.
The event received support from sponsors including Newrest Guyana, Machinery Corporation of Guyana Limited (MACORP), Unique Electrical and General Store Inc., Freightlink Logistics Inc., and Panthera Solutions.
Industry experts from major companies—ExxonMobil Guyana, MODEC, Guyana Shore Base Inc., Saipem Guyana Inc., and SBM Offshore Guyana—participated in the event. They provided insights on their companies’ operations, local content initiatives, and expansion plans, while engaging with participants on how local businesses can tap into the sector’s supply chain.

The GCCI’s Energy Luncheon marks a significant step in empowering local businesses to seize opportunities within Guyana’s thriving oil and gas industry, while ensuring sustainable development.