Guyana Basins Summit Day 1 Recap

(Energy Advance, 17.Mar.2021) — Yesterday saw his Excellency Hon. Dr. Mohamed Irfaan Ali, President, Co-operative Republic of Guyana open the Guyana Basins Summit and declare Guyana is a sleeping giant in investment opportunities. President Ali noted that while the Summit is not necessarily confined to oil and gas, the sector will become a focal point during deliberations.

He added that his Government intends to maximise the many business opportunities that exist along the value chain of the country’s fledgling petroleum sector, while expanding drilling, exploration and production activities. The President’s message was supported by Hon. Vickram Bharrat, Minister of Natural Resources and Dr. Peter Ramsaroop, Chief Investment Officer & CEO, GO-Invest who emphasised the importance and support for the role of the private sector and that Guyana is open for investment.

The acting MD/CEO of Staatsolie, Annand Jagesar addressed the growing opportunities in Suriname while emphasising opportunities for cross border collaboration between Guyana and Suriname on key infrastructure projects. The Executive Director of the World Petroleum Council, the Secretary General of the African Petroleum Producers’ Organization (APPO) along with the International Association of Oil & Gas Producers (IOGP) and IHS Markit provided clear and concrete messages on how the Guyana-Suriname Basin can become a World-Class Hydrocarbons Industry while the Suriname session gave further details on emerging opportunities in neighbouring Suriname including Staatsolie’s local suppliers portal and the current Shallow Offshore Bid Round that has over exceeded expectations.

Finally an engaging and content fuelled day 1 finished with two back to back local content sessions cementing the importance of this topic for The Guianas. If you missed any of today’s sessions they are already available to re-watch on the GBS platform and post event will be available on demand across the energy advance network.   

Day 2 at GBS 2021 is not to be missed and kicks off with back to back Ministerial Keynotes from Hon. Albert R, Ramdin, Minister of Foreign Affairs, International Business and Cooperation, Government of the Republic of Suriname on Strategic Regional Partnerships for Creating Wealth and Stability followed by an ministerial address form Hon Dr. Ashni K. Singh, Minister of Finance, Ministry of Finance, Guyana.

Panel discussions today dive into crucial topics for the development of not just the oil and gas sectors in The Guianas but the economies and prosperity of both countries. The first session looks at Sovereign Wealth Funds & Building Strong Institutions for Sustainable Oil & Gas Regimes while other panel discussions cover financing midstream and downstream, infrastructure and services and the critical role of gas. The day finishes with a women advance showcase profiling Women in Industry.