PSC backs work of new energy department

THE Private Sector Commission (PSC) has expressed its full support for the work of the new Department of Energy within the Ministry of the Presidency and has committed to working with the entity in fulfilment of its mandate.

The commitment was made last Thursday during a meeting with the Chairman of the Energy Sub Committee of the PSC, Mr. Deonarine Ramsaroop and Dr. Mark Bynoe, Director of the new department and his colleague, Oil and Gas Adviser, Matthew Wilks.

The commission and the department have also agreed to a regular schedule of consultations, a release from the PSC has said. Dr. Bynoe posited that “the philosophy of the department is to be open, transparent and predictable. We are seeking to establish partnerships and to work collaboratively with institutions such as the PSC; and we look forward to the PSC being a partner with whom we can have candid dialogue and discussions.”

He added that there are a number of areas which need to be addressed and soon there will be advertisements for specialised skill sets in the areas of cost recovery and legal framework and economic modelling in the oil-and-gas sector. These would have to be sourced overseas, but with embedded Guyanese capacity-building, since such skills are not readily available in Guyana, the PSC release stated. Notwithstanding this, no effort will be spared to develop local capacity over time. According to the PSC, it was made clear that the department will seek to avoid the sole- sourcing mechanism as far as practicable and that requests for proposals will be tendered.

On the issue of local content, the PSC said both Dr. Bynoe and Mr. Wilks emphasised that the oil- and-gas industry is not labour-intensive; and that job creation would largely come from supporting industries such as construction and hospitality, as well as sectors such as agriculture, manufacturing and infrastructural development, which should be beneficiaries of the revenues generated from the sale of oil.

In fielding questions from members of the Energy Sub –Committee, Dr. Bynoe and Mr. Wilks said the department will soon embark on a sustained public information and education programme, which will encompass community outreaches.

The importance of developing capacity and high standards of production and performance was agreed upon by both the PSC and the visiting two-man team. Joint venturing with reputable foreign companies was also agreed as a mechanism for accelerating the development of local capacity. On the issue of gas, it was pointed out by both Dr. Bynoe and Mr. Wilks that “gas economics is different from oil and a decision will not be made in haste about how we handle gas. We are getting help from the Inter-American Development Bank (IDB), with studies on how best is gas handled.”

The PSC, through the chair of its Energy Sub-Committee, Deonarine Ramsaroop, committed to working together in the best interest of Guyana.

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