In a move to encourage new investors to join the growing oil and gas sector, supply chain manager of Saipem Guyana Inc., Diego Vicke, underscored that the government here has been reinvesting heavily in infrastructure to support the country’s rapid industrial development- a major plus for companies to come to Guyana and make it their playground.

Vicke made the comment while speaking as a panelist at the recently concluded International Business Conference (IBC), held at the Marriott Hotel in Georgetown. The discussion focused on “Energy Development to Strengthen National Industries, Build Regional Supply Chains, and Expand Local Participation.”

“Go a little bit further than Georgetown, 15, 20 minutes, going to the other side, to the east bank. Go and take a look at the roads, big roads, nice traffic lights. So, the government is reinvesting in all the infrastructure needed for you guys to come and make this your playground,” Vicke told the gathering.

He explained that the government has been actively engaging the private sector and international partners on how to better plan and execute development projects, particularly as new infrastructure such as the recently commissioned Bharrat Jagdeo Demerara River Bridge and upgraded roads on the west bank continues to transform the country’s landscape.

Vicke further highlighted Guyana’s rapid economic rise, describing it as one of the fastest-growing economies globally in recent years. However, he reminded that Guyana has transformed from a once heavily indebted poor country (HIPC) to having one of the fastest growing economies in the world.

He encouraged businesses and entrepreneurs to ensure their operations meet international standards so they could effectively compete for opportunities in Guyana’s expanding energy industry.

“So, we need to first of all, try to get all the quality control and quality assurance systems get the ISO, get certified, get international standards, get all the procedures, QA, QC, HSE, risk control, everything all the procedures in place. Make your team because sometimes what is happening is that, of course, the country manager of all the companies manages everything perfectly, but the company still needs training. They need to do the quality control, document control, everything. Then, start participating, getting registered in vendor management systems,” he said.

Vicke continued, “Start looking for the opportunities, and then you start participating, you will get better every single time. Request feedback: what did I do wrong? What is this? What is that? Focus, do not generalise. The people who do everything, do nothing. You have to select two, three, four niches. Specialise in your subject, and like that, you’ll be able to raise the volume and see the opportunity that you have here.”

Vicke shared that when he is asked to point out Guyana on the map, he directs persons to the International Monetary Fund (IMF’s) website, where he said they will get a better understanding of where is Guyana today.

Moreover, the Saipem official stated that working in Guyana is not the end of the road and highlighted neighboring countries that Saipem is also operating in. Vickie said, “Saipem is present in Suriname, present in Guyana. We do maintenance and vessel work in Trinidad. We are working regionally here…”

Saipem is an Italian multinational specialising in engineering, drilling, and construction oil services company. The company has been contracted by ExxonMobil Guyana Limited (EMGL) for several major offshore projects, including subsea installations work for Exxon’s Stabroek Block developments.

Recently, the company announced it received authorisation to proceed with US$500 million work for Exxon’s seventh development offshore Guyana, the Hammerhead project.

The authorisation followed the government’s approval of a Petroleum Production Licence (PPL) for Exxon’s US$6.8 billion Hammerhead project.  In April, Saipem announced that it had received Limited Notice To Proceed (LNTP) agreement for Engineering, Procurement, Construction, And Installation (EPCI) works for the Hammerhead project. While the project was not approved at that time, the LNTP allowed Saipem to commence activities like detailed engineering and the procurement of long-lead equipment.