Georgetown : College of the North Atlantic and The Marine Institute of Memorial University came to the Guyana Government at the invitation of the Canadian High Commissioner Mr. David Divine to supplement the Gas and oil industry.
President of the College of the North Atlantic, Ann Marie Vaughan and other officials from the other institution met President Donald Ramotar in the company of High Commissioner Divine, exchanging views and information in the natural resources sector.
Both institutions, based in the Province of Newfoundland and Labrador worked collaboratively to develop an oil and gas industry over the last 25 years.
Vaughan said the development has seen the Province moving from one titled “A have not Province” to a leader of economic growth within Canada.
She believes the potential is there for oil and gas development in Guyana but even though a discovery has not yet been made, investors are still keeping fingers crossed and holding to the potential of the Guyana offshore basin as a vastly underexplored area.
High Commissioner Divine said the prospect is favourable, pointing to the recent discovery in French Guiana and highlighted the importance of planning ahead by passing on the requisite knowledge about the industry to the right stakeholders.
At present several reputable oil exploration companies are in pursuit of oil in the Guyana offshore area among them are REPSOL, Tullow Oil, YPF CGX and ExxonMobil. CGX recently announced plans to shift drilling operations to a different location in the Corentyne after coming up empty in the eagle one location.
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