The Guyana Oil and Gas Energy Chamber (GOGEC) will not be participating in the Guyana International Petroleum Business Summit and Exhibition (GIPEX) scheduled to be held next month as it holds the view that it is a purely “anti-local content” event. Making this revelation to the media today was President of GOGEC, Manniram Prashad.
In his statement to the press, Prashad said participating companies are required to sponsor or attend the event at exorbitant prices while adding that the revenue made by the organizer, Valiant Business Media (VBM), does not stay in the local economy.
He said, “In some cases, a pittance is given if any at all to the local collaborators, and the bulk of the profits leave Guyana with little or no benefit to Guyanese. It is also observed that there seems to be an attempt to divide and exploit some local private sector groups with speaking slots as an incentive to add their name to the events.”
Prashad added, “As far as I am aware, the Private Sector Commission and the Georgetown Chamber of Commerce and Industry have not added their names to the GIPEX 2021 Conference in June. And GOGEC is not participating in the summit…”
Further to this, Prashad said the private sector is capable of promoting its summit and exhibition while adding that such efforts should receive the full backing of the oil industry.
With the foregoing perspectives in mind, Prashad called on all players in the oil sector to support events that are genuinely centered on promoting local content and “avoid these carpet beggars” at all costs.
It should be noted that GIPEX has a history of successful execution, with over 250 local and international companies participating in the 2019 summit in addition to more than 70 exhibitors.
Major industry operatives have already signaled their interest in being a part of GIPEX 2021. Saipem is on board as a Gold Exhibitor, while JHI Associates, TechnipFMC and Oceaneering are silver sponsors. Associate sponsors include Sol, Parker, and Digicel.
The third annual GIPEX is particularly timely since business opportunities in Guyana’s oil and gas sector are growing quickly, as news of the nation’s nine billion barrels continues to attract the interest of the international business community.
