Oil and gas investors looking to establish regional offices here

Investors in the oil and gas industry have signalled their interest to establish their regional headquarters in Guyana, according to Chief Executive Officer of the Guyana Office for Investment (Go-Invest), Peter Ramsaroop.

Ramsaroop said the gap analysis being undertaken by Go-Invest maps out the developmental areas where Guyana needs to focus. He said this helps investors match their interest with Guyana’s areas of development.

With that, the CEO pointed out that “many of these companies supporting the oil industry are moving their regional headquarters to Guyana. They are no longer trying to work out of Trinidad or Brazil to do their repairs of equipment; they now want to set up their regional headquarters in Guyana and that again is a significant boost for our investment climate.”

Oceamar, a leading Mexican offshore agency, is one of the companies that has since signalled its interest in Guyana.  The company knows there are numerous oil blocks that are yet to be auctioned and wells to be dug and it is trying to capitalise on the investment opportunities here, Ramsaroop said.

“They would be looking at things like helicopter pads, bringing in helicopters, bringing in vessels in support of the oil industry. They have a large catering operation… A lot of these companies are not waiting for a contract to come out, they realise that our growth is aggressive so they are saying we want to come in now, we want to invest, here is what we plan to do,” the CEO said.

To date, Guyana has made 19 oil discoveries offshore with an approximate eight billion barrels of oil. (Department of Public Information)