Newfoundland companies to scout oil and gas prospects here

The Canadian High Commission is working with the Newfoundland and Labrador Oil and Gas Industry Association (NOIA) and the Guyana Office for Investment (Go-Invest) to host Canadian companies looking for opportunities in the oil and gas sector here.

A release yesterday from the Department of Public Information said that approximately 25 entities from Canada’s offshore oil and gas industry are scheduled to be here from September 11th – 14th, 2017. The Canadian companies are hoping to leverage partnerships with appropriate Guyanese businesses, and work with them to access opportunities in the oil and gas sector in the wake of huge oil discoveries offshore Guyana.

The release said that the development of potential partnerships between the two jurisdictions could serve to build strong business relationships, transfer technology, and skills development to support the development of Guyana’s offshore oil and gas industry. Newfoundland companies have been servicing Floating Production Storage and Offloading (FPSOs) platforms for over 15 years, the release said. Companies from this eastern province of Canada have also been servicing rigs and drill ships for 40 years.

“The experience of Newfoundland can be a great potential resource to Guyana in developing its offshore industry through working with experienced partners (Government and private sector), suppliers and service companies. This trade mission will expose Canadian companies to the market opportunities, investment regime and qualified local companies”, the release said.

Several events are planned. On Tuesday, September 12th, 2017 there will be an Opening Seminar for Canadian Companies at the Marriott Hotel from 8 am – 10 am. On that same say there will be a Networking Reception at the Marriott Hotel from 7 pm to 9 pm. On Wednesday, September 13th, 2017 there will be a presentation on the Newfoundland and Labrador offshore oil and gas experience at the Umana Yana from 6 pm to 9 pm.

A release from DPI said that the Newfoundland & Labrador Environmental Industry Association (NEIA) is a not-for-profit association of businesses that promotes the development of clean technology and the growth of the green economy in the province. NEIA’s prime focus is in supporting the international business and export activities of its members. NEIA enables communication and strategic collaboration amongst export and/or international business-oriented firms in Newfoundland and Labrador and between these firms and international organizations and their clients.

This Public Presentation/Lecture will seek to outline the following: Brief history on the local economy, businesses and environment; Challenges; Successes; Key Lessons; Suggestions for Guyana; Building the local economy through external partnerships.