A Memorandum of Understanding (MoU) was signed on May 3rd between Excalibur Minerals LLC and Ithaca Energy Partners Inc (IEP), a Guyanese company for the setting up of a barium compounds manufacturing facility to aid the oil and gas industry.
The signing, which took place at the International Offshore Technology Conference (OTC) in Houston, Texas, will see Excalibur Minerals, a wholly owned subsidiary of Newpark Resources, coming to Guyana. A release from the Georgetown Chamber of Commerce and Industry (GCCI) said that the two firms will establish a joint venture which will see over US$20 million being invested in the establishment of a barium compounds manufacturing facility in Guyana.
