MANNIRAM Prashad, President of the Guyana Oil and Gas Energy Chamber (GOGEC) and Nelson Castañeda Barbour, Executive President of the Colombian Petroleum, Gas, and Energy Chamber (CAMPETROL) have signed a Memorandum of Understanding (MoU) to foster collaboration in the oil, gas and energy sectors.

A press release stated that by signing the MoU, the two entities have committed to enhancing trade relations, knowledge exchange, investment opportunities, and capacity-building initiatives between Guyana and Colombia.

The key areas of co-operation outlined in the agreement include knowledge sharing which entails the exchange of industry reports, regulatory insights, and market trends; investment and trade promotion which focuses on organising business forums, trade missions, and networking events; capacity building through training programmes, seminars, and workshops for industry professionals; technical collaboration which will pave the way for partnering on research and development for sustainable energy solutions and policy advocacy which will set the stage for working together on policy recommendations to support a strong and sustainable energy sector.

“This partnership with CAMPETROL aligns with GOGEC’s mission to create global linkages and drive opportunities for local companies. Colombia’s expertise in the energy sector presents valuable learning and collaboration opportunities for Guyana as we continue to expand our oil and gas industry,” Prashad said according to the press release.

Meanwhile, CAMPETROL’s representatives also emphasised the importance of this alliance, stating that it paves the way for cross-border investments and technological advancements that will benefit both nations’ energy industries.
As part of the agreement, both organisations will establish working groups to implement joint initiatives and hold periodic meetings to track progress and explore new areas of co-operation, the release said adding that the signing was a step toward fostering a dynamic and sustainable energy sector for Guyana and Colombia, leveraging the strengths of both countries for mutual growth.