The Guyana Oil and Gas Energy Chamber and the Guyana Office for Investment (Go-Invest) signed a Memorandum of Understanding (MoU) today which would serve as a platform for ensuring foreign and local companies are able to form partnerships and given timely incentives for projects in the energy sector.

According to the agreement, the mission of the Chamber would be to ensure equal opportunities for operators and potential operators within the industry and promote trade and knowledge transfer among stakeholders and members.

Go-Invest would be responsible for promoting and facilitating local and foreign private sector investment and exports in accordance with the country’s approved investment and export strategies.

The MoU is seen as a timely initiative given Guyana’s current efforts to draft a robust Local Content Policy that would ensure maximum use of indigenous skills, goods, and services in the industry.