GIPEX 2018– summit hailed a successWith the close of the Guyana International Petroleum Business Summit (GIPEX) 2018 on Friday, the Private Sector Commission (PSC) is vowing to continue pushing for effective local content policies that would benefit all Guyanese.This commitment was made by PSC President, Eddie Boyer, who noted at a press conference that notwithstanding the success of GIPEX, there remained scope for more to be done.The business leader acknowledged the potential need for the private sector to lobby Government to establish a forum where his organisation can better interface with the investors and the regulators.Meanwhile, Guyana Manufacturing and Services Association (GMSA) President Shyam Nokta promised he would facilitate a forum at which the association couldFrom left; GMSA President Shyam Nokta, PSC Chiarman Eddie Boyer, and PSC Executive Ramesh Dookhooupdate its members on the industry.SuccessFollowing on the heels of the PSC, a press conference was held with Guyana Office for Investment (GO-Invest) Chief Executive Officer Owen Verwey expressing optimism that the summit was able to meet its objectives of networking and introducing Guyanese to the industry.He pointed to the turnout, and especially lauded the youths from school, who came to get a glimpse of the oil and gas sector; and he even lauded the offshoot effects on tourism, as nearby hotels were booked out.He was asked directly, however, about the tangible benefits the summit was able to attract — such as the number of joint ventures that were facilitated between foreign and local companies.“I think there was at least one partnership brokered between a Canadian entity and a public relations entity in the area of public relations, marketing, strategicA section of the gathering on the final day of the summitplanning,” the CEO recollected, while noting his reluctance to call names.“There was another in the education sector. That is Nations University and Learnco out of Canada. I know there is another one going on between two entities in the design and feasibility area.“There’s another one going on in the laboratory and medical research-related industries. And I think there’s one, I can’t remember exactly. But I prefer to leave the entities to make their information public.“But generally, there are five that got to an advanced stage in their partnership (negotiations). Those are the known ones,” Verwey said.Verwey also defended the costs attached to securing a delegate spot. A cost of almost US$2,000 was required for a booth at the exhibition. According to Verwey, as the event was intended to be a self-financing venture, there had to be a way to cover the costs.He noted that the United Kingdom-based private company that partnered with them, Valiant Business Media Group, expended thousands of US dollars. Verwey also posited that sometimes it is better to just observe if one cannot afford to take a more active role in such an event.“Sometimes it’s best for you to not come to the table when you’re not ready. But having an awareness of what goes on at the table by being there, for example, was a good (idea),” Verwey stated.“I know that people who did not buy a delegate pass made the effort to network with businesses that were there, so they could meet them offsite to get some of that opportunity. When it comes to the cost, we have to have everyone at the table. But you have to recognise that we have to have everyone that is ready at the table.”On the final day, there were two workshops that covered topics focusing on “Doing Business in the Oil and Gas Sector in Guyana” and “Doing Business in Oil Field Services, Supply Chain and Facilities Management”.The participating entities in the summit included oil giant ExxonMobil, Repsol Exploracion SA, HESS, CNOOC Nexen, CGX Energy Inc, Schlumberger, JHI, GBTI, GTT, Baker Hughes, Siemens, ECO Atlantic, Tiger Tanks, Oceaneering, DAI, EDO, Clariant, TechnipFMC, Scotiabank, Macorp, Bristow, VSH, ERM, and Laparkan.