“Oil is coming; we must prepare” – Trotman

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By Jomo Paul

photo 2[www.inewsguyana.com] – With adequate preparation and policies in place, Guyana will not succumb to the Dutch disease, but instead will grow to become a thriving country with a vibrant population, says Governance Minister, Raphael Trotman.

Trotman made the statement while speaking at the Oil and Gas two-day seminar at the Arthur Chung Convention Center, Liliendaal on Friday, October 30.

The seminar is being held to spotlight key elements for the design and implementation of the legal and regulatory frameworks to effectively govern the petroleum sector.

Trotman noted that preparation for the development of a full-fledged Hydrocarbon sector will take many years and requires strengthening of institutional frameworks. This is not limited to the natural resources sector but also in the spheres of business services, foreign affairs, the justice and education systems, social protection, and the environment just to name a few.photo 1

He said that an entire nation has to get on board together and with one plan of action.

“Guyana is being proactive in its approach to this emerging sector to ensure that all mechanisms necessary for the effective management and the best outcomes for its people are in place even before the first barrel of oil is brought to the surface, refined and sold,” he stated.

Development of the oil and gas sector is notorious for the risks and threats that it poses to economic, social and political stability, and the environment. Therefore, good governance and astute management of the sector is, then, a major challenge for governments and domestic institutions, the Minister stated.

“Oil is coming; we must prepare and become adept of what is going to be bequeathed and placed into our hands. We must make the necessary efforts to ensure that in decades to come we have something to show for our sustainable utilization of our natural resources,” Trotman underscored.

He maintained that the Government is serious about utilizing national patrimony in the best interest of the people of Guyana.

“This is demonstrated in steps being taken to strengthen our policy frameworks within the natural resources sector and our plans to set aside a meaningful percentage of everything earned from gold, diamond, forest, bauxite, water and oil for future generations.”

Meanwhile, United Nations Development Programme (UNDP) Resident Coordinator, Khadijah Meusa stated that it is empirical that governments implement the right policies, develop capacity and consult with communities in the development of this sector.

She said that failure to do so would see Guyana falling prey to the curse of oil.

4 COMMENTS

  1. Another joke,as somebody who has knowledge of the oil industry i dont think there is anything on ground to indicate,that oil is on its way as soon as they are claiming.if Guyana want to become an oil producing state in 5years that is very possible but definately not the way they are going about it,first Mr Minister it take some year to map out,then before rigs are put in place then before the oil platform is built by this time next election would have reached and passed,that is assuming the venezulain issue is out of the picture and the west isnt using you to play politics.the hole oil policy was designed by forgien interest,this is the first time i have ever heard of that happening round the world second the lisa 1, USA companies own 75% jointly and chinese own 25% which makes 100%,what those Guyana own and how is the country going to benefit nobody has been able to answer this questions.in the end i see people who seem not to know alot of things but yet too arrogant to find people to help them.

  2. Hey “Trust Us” Trotman, will the oil fill the huge hole in the treasury created by the fat pockets you bandits awarded yourselves?

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