Guyana, T&T companies seeking joint venture to leverage Oil & Gas sector

0

The Oil and Gas sector is expected to grow with the coming on stream of more locally owned companies providing support services to the industry.

From L to R – Kenrick Hoyte, Vice President, CEO Faizal Khan and Owen Verwey, CEO of GO-Invest.

GUYSONS is the latest company that has expressed its interest in leveraging the Oil and Gas industry by providing Logistics and Services.

The company intends to do this via a Joint Venture (JV) with a Trinidad and Tobago (T&T) based logistics service provider, AAC Transport and Enterprise Limited.

The announcement was made by GUYSON’s Chief Executive Officer (CEO), Faizal Khan, during a special media briefing on the sidelines of the inaugural Guyana International Petroleum Business Summit and Exhibition (GIPEX) on Thursday.

Khan, in making the announcement, told a segment of the Guyanese media corps that the GUYSONS Group of Companies, in existence for more than two decades locally, “carefully looked at the market place to see how we, as a group of companies, can build capacity and support the oil and gas industry in Guyana.”

The JV, he said, will see well-established logistics service provider AAC Transport and Enterprise Limited and the GUYSONS Group of companies coming together to create the first majority owned logistics and services company in Guyana.

Kenrick Hoyte, Vice-President of the JV company and Director in the T&T based organization, used the occasion of making the announcement, to speak to the fact that the T&T based company has been in the business of providing oil and gas logistics and support services for companies in Trinidad and Tobago for in excess of four decades.

According to Hoyte, AAC Transport and Enterprise Limited, “is a preferred business in logistics and services in T&T.”

He said, “…we are here to support Mr. Khan, GUYSONS and the Guyanese people in providing a professional and efficient and effective service for the growing oil and gas industry here.”

CEO of the Guyana Office for Investment (GO-Invest)—Owen Verwey, used the occasion of announcing the Joint venture to reiterate the agency’s repeated advocacy position, “collaboration and partnerships with overseas and international companies” to “first of all enter the oil and gas industry, develop it and then take control themselves.”

According to Verwey, the Joint Venture between the Guyanese and Trinidadian companies is among the principal reasons behind the hosting of such a networking forum.

LEAVE A REPLY

This site uses Akismet to reduce spam. Learn how your comment data is processed.