DDL in oil and gas venture with T&T company
Demerara Distillers Limited (DDL) yesterday announced that it has entered an oil and gas service joint venture partnership with Trinidadian company CWSL and their plans include the development of a “world-class” shore base facility.
The joint venture, which DDL entered through its subsidiary Demerara Contractors and Engineering Limited (DCEL), is to be known as Demerara Offshore Incorporated, DDL said in a statement.
“Demerara Offshore will be providing a wide range of services to the oil and gas sector that include the development of a world-class shore base facility, welding and fabrication, electrical, mechanical, instrumentation, blasting and painting, specialized coating, non-destructive testing and inspection, valve repairs, pressure testing, waste management and disposal, catering, equipment rental, and human resource development,” it explained.
DCEL Chairman Komal Samaroo was quoted as saying that the decision was taken after “very careful consideration and evaluation of the opportunities” in the oil and gas sector.
“Under this arrangement we hope that we can add to the local content of the oil and gas sector through the various contracts that we would be entering into, and through the development of the human skills in the country to meet the standards required by the industry,” Samaroo added.
According to the statement, Demerara Offshore will bring real value-added opportunities to Guyanese and the Guyana economy. It said through its partnerships with world-leading products and services providers, it will leverage substantial knowledge and expertise to develop Guyanese capacity and in this regard it was noted that Demerara Offshore is in the final stages of negotiations with companies worldwide, including ASCO and NSL, HB Rentals – a branch of Superior Energy of the USA, KOS Kentintrol Valves out of the UK, and Jotun Paints.
Meanwhile, Nigel Bennett, the Chief Executive Officer of CWSL, said, “This is a great opportunity for our two companies. In Trinidad and Tobago, given our long industrial and oil experience, we have a lot to offer Guyana as our CARICOM family. We are delighted to support our lead partner DDL. This is an initiative for Guyana’s development and DDL has a long history of serving this country.”
Bennett added that “the efforts of Demerara Offshore will allow for the development of both the technologies and the human resources required for the development of the Guyana oil and gas industry. It is important that Guyanese themselves are trained and prepared to take the sector forward with Guyanese character.”