L, gas opportunities at Rice University forum
capacity and extensive experience in the management of the equivalent of sovereign wealth funds. They did not discuss with them their interests but explained what is currently in place in relation to dealing with the fledgling oil sector.
Gaskin, meantime, told Stabroek News that he wanted to make clear that the event sponsors did not pay any member of the delegation for their attendance but provided them with economy class travel and accommodations.
He said that they were invited and accepted because government believes it is an opportunity to showcase Guyana even as this country networks for its development. “We were invited, and we believe it is a good opportunity to showcase our country,” he reiterated. Dennison, meantime, explained that his role on the panel would be to give technical support and the outlook of the petroleum sector. “I will be giving support to the extent that I can give, on any relevant technical outlook of what is going on here, well to the extent that I know of what is going on here. There is a focus on Guyana as everybody knows and I suppose (this) is one of those opportunities to give context to Guyana; the history and background and our exploration efforts. Guyana is a destination for business now…,” he said.
According to event details from the institute’s website, “Guyana’s oil and gas prospects have the potential to transform both the country and the international oil companies developing these resources. First production from Guyana’s offshore Liza field is expected in 2020, and full development could yield 500,000 barrels per day. With billions of dollars in expected annual oil revenues, Guyana will have the opportunity to spur substantial economic and social development. However, the government and industry investment requirements to bring the oil to market and provide infrastructure to support this development will be massive.”
The discussion will be moderated by Dr Francisco Monaldi, a Fellow in Latin American Policy at the Baker Institute.