Demerara Distillers Limited today announced that it had entered a joint venture partnership with Trinidadian company CWSL for the oil and gas sector which includes the development of a “world-class shore base facility”.
The joint venture will be known as Demerara Offshore Incorporated.
A statement from Demerara Offshore Incorporated follows:
Demerara Distillers Limited (DDL), through its subsidiary Demerara Contractors and Engineering Limited (DCEL) and CWSL today announced the establishment of an oil and gas services joint venture, Demerara Offshore Incorporated.
Demerara Offshore will be providing a wide range of services to the oil and gas sector that include the development of a world-class shore base facility, welding and fabrication, electrical, mechanical, instrumentation, blasting and painting, specialized coating, non-destructive testing and inspection, valve repairs, pressure testing, waste management and disposal, catering, equipment rental, and human resource development.
DCEL Chairman Komal Samaroo said that, “after very careful consideration and evaluation of the opportunities in the oil and gas sector the company entered into the joint venture with CWSL from Trinidad and Tobago.”
Samaroo added that, “Under this arrangement we hope that we can add to the local content of the oil and gas sector through the various contracts that we would be entering into, and through the development of the human skills in the country to meet the standards required by the industry.”
Demerara Offshore will bring real value-added opportunities to Guyanese and the Guyana economy. Through our partnerships with world-leading products and services providers, Demerara Offshore will leverage substantial knowledge and expertise to develop Guyanese capacity. Demerara Offshore is in the final stages of negotiations with companies worldwide including ASCO and NSL, HB Rentals – a branch of Superior Energy of the USA, KOS Kentintrol Valves out of the UK, and Jotun Paints.
CEO of CWSL, Nigel Bennett said, “This is a great opportunity for our two companies. In Trinidad and Tobago, given our long industrial and oil experience, we have a lot to offer Guyana as our CARICOM family. We are delighted to support our lead partner DDL. This is an initiative for Guyana’s development and DDL has a long history of serving this country.”
Bennett added, that “the efforts of Demerara Offshore will allow for the development of both the technologies and the human resources required for the development of the Guyana oil and gas industry. It is important that Guyanese themselves are trained and prepared to take the sector forward with Guyanese character.”
Demerara Offshore is committed to making the cost of services for the oil and gas sector in Guyana more competitive through the development of Guyanese capacity and capability.
