President David Granger said capacity building and prudent management of petroleum resources is important to the oil and gas industry’s development.
At the opening of a special high-level Cabinet Caucus today at State House, the President noted that all of the national will and resources will have to be mobilized, the Department of Public Information (DPI) reported.
“This is going to be the single largest industry in Guyana …We need to ensure that our resources are mobilised so that every Guyanese understands the importance of petroleum …We have to understand that this industry from the start, is Guyanese”, President Granger is quoted by DPI saying.
As the trustee of this new petroleum resource, the Head of State stressed that investment, in education, development of administration and legislation to protect Guyanese from the adverse aspects of the exploitation of the oil resources, is critical.
The Head of State noted the country has to “walk on two legs” – specifically, preserving Guyana’s Green State and ensuring oil production benefits current and future generations.
“We need to educate ourselves as a Cabinet, as a government and as a population as a whole to take a sober approach to the exploitation of this valuable resource. We need to create the organisation, the structure that will manage this resource”, the President added.
The special cabinet caucus was facilitated by Chatham House. Minister of Natural Resources, Raphael Trotman explained the sessions seek to develop a roadmap for the government in preparation for oil production in 2020.
“We need a synthesis of ideas that form themselves into a practical and attainable plan of action. We need as well the ability to speak a new language, a lingua franca, so to speak and all together at the same time and to be able to communicate that effectively”, Minister Trotman noted.
Cabinet was briefed by several global thinkers and experts on natural resource management including renowned Professor of Economics and Public Policy Paul Collier, DPI reported.