A team from Japan’s Infor-mation Centre for Petroleum Exploration and Production (ICEP) is researching Guyana’s oil, gas and natural resources sector which data will be presented to the 29 ICEP member companies seeking opportunities for funding in these fields.
According to a press release from the Government Information Agency (GINA) the 12-member team met with Minister of Natural Resources and the Environ-ment Robert Persaud on Monday where a commitment was made to assist in the fact-finding mission.
“They will be having a technical workshop with our technical staff going through the issues, learning a bit more about our legislative framework and the work that has been done,” Persaud said.
He said that the team is expected to meet with the Prime Minister, Minister of Foreign Affairs, and representatives of the private sector who are involved in the business of oil and gas exploration.
Persaud said these demonstrations of interest in Guyana’s extractive sectors are important as they indicate that the country is among those being considered for future oil and gas developments.
The minister explained to the team that the oil and gas sector is in its preliminary exploration stage with two companies currently drilling. The companies are both optimistic about the possibilities of developing the sector. Persaud also reiterated that government is open to foreign investment and has never had a preference for a particular country or investor, though he acknowledged that Guyana and Japan have strong ties.
“We are very much open and looking at the various proposals that we received and to see in these proposals, the ones we would want to move forward with depending on how they fit in our national development objective and serve the people of Guyana,” he said.
President of ICEP and mission leader to Guyana, Akira Suzuki confirmed that Guyana is attracting a great deal of attention as an emerging country in oil and natural gas development. “It is good timing for us to come here to seek opportunities,” he said.
