Hailing the Private Sector Commission’s (PSC) inaugural attendance at the Offshore Technology Conference (OTC) as “remarkably beneficial with something for everyone”, PSC President Nicholas Boyer is encouraging more businesses to join as the organisation plans to participate annually.
“This wasn’t just about oil and gas but the number of support services that would be needed in Guyana from oil and gas. And I don’t mean oil and gas support services either, I’m talking housing, accounting, food [provision]…” Boyer told Stabroek News, via phone from the United States on Tuesday.
“Our booth saw a lot of interest and even the events afterwards that we organised were packed. It was remarkably beneficial with something for everyone where I know that no one regretted their participation. We would definitely be going next year and plan to make it annual,” he added.
This was the 50th year that the Houston, Texas-based conference was held. It is sponsored by 13 industry associations such as the Oceanic Engineering Society, the Marine Technology Society and the American Society of Civil Engineers, among others.
In collaboration with the Guyana Office for Investment, it was the private sector body’s goal to not only sell Guyana, but to secure business and investment opportunities for small entrepreneurs here.
“I really want to sell this because this is about selling the country as a destination event for everything we can do for business, directly and indirectly in the oil and gas industry,” Boyer had said back in March.
Boyer had said that he was hopeful that from the associations formed at the event, that there can be “the joint ventures, mentorships, the partnerships and maybe the investments and trade relationships developing between Houston and Georgetown.”
With 28 companies and over 30 participants, the Guyana contingent “set up shop” at the conference and participants believe that their objectives were achieved because of the amount of interest shown in the booth.
“We were very excited about the trip because it was our first time to see the role Houston plays in the oil and gas industry and I don’t think we really understood until we got there. We met a lot of companies, I mean a lot of companies whose reps were eager to know what we offered and who also had a number of products and services and are interested in bringing those products and services to Guyana. We did put onstage, Guyana,” he said.
“The interest was there and it wasn’t only about oil and gas. We had people flock the booth asking a number of questions and we saw a lot too. We had people asking questions from the very basic as ‘how many people are in the country?’ to updates on ExxonMobil’s exploration and what it means,” he added.
Boyer’s views was shared by another participant and Executive Director of the Georgetown Chamber of Commerce, Richard Rambarran, who underscored that the spinoffs of networking at the conference will be beneficial to local businesses, especially in the area of local content.
Collaboration
“This was a collaboration between government and private sector so it was good because you had questions that could be answered from both sides, if need be. The government could answer on policies requirements…and private sector about doing business and that kind of thing. The partnership was great and the atmosphere was great. I think people were impressed with the Guyana booth. I think we were able to move the meter for them wanting to get in the market. We shared the importance of local content and that was important,” he said.
“Guyana was on an international stage and Guyana was looked at as an investment destination. The conference presented that opportunity for local business. Those within the PSC were able to experience and understand, in greater detail, the intricacies of this whole possible evolvement of the PSC doing business in an oil and gas industry and views on local content,” he added.
Asked what direct benefits the conference could bring for the country, Rambarran reiterated that there could be potential investments and spin offs, even as he reminded that all private sector businesses were invited to showcase their wares at the show.
“It wasn’t for one person or one group. Everyone who was part of the body, you know, reputable businesses and part of the umbrella business association, could have participated. Those companies that participated viewed the conference as something that was worthwhile. It was not closed to anyone…Any regional, any manufacturing, any business, the tourism and hospitality businesses…anyone could participate,” he said.
“It was an educational experience and eye-opening for companies and attendees, any entity small or large, I am telling you. When we look at this holistically, you can see that we can learn so much and in turn, develop local businesses so much. The benefits are there. You get to network and meet investors or learn how to better develop your business. You get to see what the market demand…is and you also got to share with persons interested, understanding the dynamics of the private sector here,” he said.
Rambarran is optimistic that next year, more companies would join the contingent.
The OTC states that it gives participants “access to leading-edge technical information, the industry’s largest equipment exhibition, and valuable new professional contacts from around the world. Its large international participation provides excellent opportunities for global sharing of technology, expertise, products, and best practices. OTC brings together industry leaders, investors, buyers and entrepreneurs to develop markets and business partnerships.”
This year’s conference included an ‘Around the Word’ series, which featured Guyana.