Head of the Private Sector Commission (PSC) Eddie Boyer says that although the inaugural oil and gas summit can be viewed as a success, local businesses shouldn’t “build or invest in anticipation” since they are not guaranteed any contracts and could stand to lose if they “rush.”
At a press briefing at the conclusion of the Guyana International Petroleum Business Summit and Exposition (GIPEX) at the Marriott Hotel yesterday, Boyer said that the Commission is of the opinion that the event was a great success since local businesses were able to meet a number of oil giants, sub-contractors, consultants and other key players in the industry and have “very good” interaction with companies from all over the world.
“I want to say importantly that we have learned also from meetings we have had with oil companies, mainly Chevron and others, is that one should not build or invest in anticipation and I think that is something we need to look at. Our businesses shouldn’t assume, whatever business you’re doing that the oil companies would give you part of whatever you are bidding for, or if you lose the contract, you are being subcontracted,” Boyer said, while adding that businesses should be more secured rather than “going at random.”
He noted that
