Very optimistic about oil and gas, but Guyana must be in a position of readiness
March 3, 2012 By
Source
Dear Editor,
All Guyanese are hoping that Guyana would indeed discover oil and gas. The general feeling is one of optimism. One can only imagine the endless possibilities that will come as a result of our country being successful in this regard. There will be massive creation of wealth, many persons will benefit from long term employment and many other related sectors, including tourism and the services industry will be boosted.
Government has developed a multi-sector approach aimed at bolstering the country’s resources capacity and capability to better manage its heightened energy profile.
Should the country realise commercial production of oil and gas, then this would be a new area of focus, and in this regard, emphasis must be placed on building and developing the capability and capacity to deal with the issues to ensure effective governance of the sector.
If oil and gas production is confirmed in Guyana, it is critical to have a framework in place for all stages of development. And I must say I am impressed with the high level of attention that is being paid by the government and other key players. The government has already started the ball rolling and has made a wise move to seek the U.S. government’s assistance in helping our country to be better prepared for the discovery. From all indications, experts from the U.S. will come here to provide support wherever necessary.
Also, the legislative framework that currently guides the governance arrangement related to oil and gas production and exploration in Guyana is currently under review by a team from the Commonwealth.
It should also be mentioned that the Agriculture Ministry recently commenced a training workshop on bio-energy at the Guyana School of Agriculture (GSA), with participants drawn from several agencies. These interventions will certainly help our own local experts in various fields to better understand the industry and the roles they are expected to play.
Editor, I am happy that we have taken a proactive approach as a country to oil and gas discovery and production. I concur with the subject minister that we ought not to wait until we discover and then start to get our act together, it is about getting our act together very early so that we can properly manage and account for the sector.
Yours truly,