Company to oversee Guyana’s commercial ...

ferrable to other sectors,” Trotman told his audience.

Contextually, the Natural Resources Minister cited fabrication which he said could be utilized in mining and shipbuilding, information technology and telecommunications which can be applicable across a wide range of sectors as well as “welders, chefs, mechanics, logistics, marketing and business administration.” In effect, Trotman said, the advent of an oil economy could see “highly trained professionals as well as an inherent culture integrated into other pertinent sectors in the nation’s economy.”

In his presentation Trotman also sought to update the university community on the inventory of institutions that have already been created and those that are scheduled to be created in the period ahead to help manage the sector.

He disclosed that “at the level of Cabinet” government has created a subcommittee for the petroleum sector comprising the Ministers of State, Natural Resources, Finance, Infrastructure, Business and the Presidential Advisor on Petroleum whilst at the ministerial level a Petroleum Sector Ministerial Committee had been created comprising the Ministers of State, Natural Resources, Finance, Infrastructure and Business. At the level of the Ministry of Natural Resources itself, the Minister disclosed that the Ministry had been consistently expanding its internal capacity by engaging “expert advisors and establishing a Petroleum Department” in addition to supporting “key governance initiatives” including the recently created Guyana Extractive Industries Transparency Initiative (G-EITI) that allowed for the country’s subsequent membership of the international institution, the Extractive Industries Transparency Initiative (EITI).

The EITI is a global standard to promote the open and accountable management of oil, gas and mineral resources. It seeks to address the key governance issues of the oil, gas and mining sectors.