Ghanaian businesses have been urged to seize the “vast and endless” opportunities in Guyana’s fast-expanding oil and gas sector, which is rapidly transforming the South American nation into a major global energy producer.
Stanley Amartiefio Jnr, President of the Ghana Chamber of Commerce in Guyana, made the call on the Asaase Breakfast Show on Monday (8 December), highlighting the significant economic shift in Guyana and the critical role the Chamber is playing in facilitating cross-border trade.
Amartiefio Jnr pointed out the immense scale of Guyana’s energy transformation following its 2015 oil discoveries.
“This conversation that we are going to discuss today is about Guyana,” he stated. “I’m sure you know Guyana is not so small country in South America, but it has a very small population. With their recent oil discoveries, I believe in 2015, they have pivoted to being one of the major oil-producing countries in the world.”
The recent signing of a Production Sharing Agreement (PSA), which Amartiefio Jnr mentioned, is expected to positively impact the nation by “adding to the amount of barrels that will be produced a day,” he said.
The Expansive Value Chain for Ghanaian Firms
Amartiefio Jnr stressed that the oil boom’s impact extends far beyond crude extraction, creating a deep and varied value chain ripe for Ghanaian participation.
“This also impacts Guyana’s oil and gas players. As you know, there is a very, very vast and expansive value chain,” he explained.
“There is a lot that Ghanaian companies can do. The opportunities are vast and endless for them,” he affirmed. He noted that once exploration begins, the arrival of vessels creates an immediate demand for crews, caterers, and maintenance personnel.
The Chamber’s Role as a Strategic Bridge
The Chamber President elaborated on his organisation’s mandate to ensure Ghanaian companies can effectively access these opportunities.
“The Chamber’s main objective is to facilitate trade between Africa and the Caribbean,” he said. This is achieved by helping businesses find local partners, navigate regulations, and secure contracts.
“If they’re looking for local JV partners, we can assist them with that. We also help them with relevant stakeholder engagements,” he said, confirming the Chamber’s role in “a lot of interventions.”
Amartiefio Jnr also highlighted the existing expertise among members, who are veterans in sectors like construction, medicine, banking, and technology.
“The majority of the members of the chamber that are obviously operating within our space are veterans in the space. They know their stuff,” he concluded.
“I believe they are well-prepared and well-versed in tapping into those opportunities.”
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