Canadian province to sign oil and gas MOU with Guyana

Minister of Natural Resources from Newfoundland and Labrador, Siobhan Coady

The High Commission of Canada and the Province of Newfoundland and Labrador are working with the Government of Guyana through GOINVEST to bring a Canadian oil and gas trade mission of approximately 50 persons from the province’s offshore oil and gas industry here from October 15th – 18th, 2018.

A release from the High Commission today said that Canadian companies are hoping to leverage partnerships with Guyanese businesses, and work with them to access opportunities in the oil and gas sector.

The Minister of Natural Resources from Newfoundland and Labrador, Siobhan Coady, who will also be in Guyana next week on a different mission, will be attending the events organized for this mission. On October 15th, 2018, the release said that Coady will be signing a MOU on behalf of her province with the Government of Guyana for technical cooperation on oil and gas.

The release said that Guyana presents world-class, deep-water petroleum prospects which offer business opportunities that align with Newfoundland and Labrador’s petroleum expertise and experience.

“The development of potential partnerships between the two jurisdictions could serve to build strong business relationships, transfer technology, and skills development to support the growth of Guyana’s offshore oil and gas industry. Newfoundland companies have been servicing FPSOs for over 15 years. Companies from this province have also been servicing rigs and drill ships for 40 years”, the release said.

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