Signing marks the culmination of two years of deliberations

The Guyana Oil & Gas Energy Chamber (GOGEC) and the Suriname Energy Chamber (SEC) have signed a historic cooperation agreement between the two energy chambers.

The memorandum of understanding (MOU) provides a framework for cooperation between the SEC and the GOGEC to facilitate business development support, including timely access to incentives for the energy sector, to promote joint ventures and partnerships between local and foreign investors, and to undertake joint activities aimed at investment promotion at the national and regional level.

The MOU signing marks the culmination of two years of efforts to ratify a shared vision and framework for enhancing private sector opportunities across the two countries. While the MOU is not legally binding, it sets the platform for deeper cooperation bilaterally and regionally that will see the energy-related private sector bodies for both countries address certain critical issues.

Issues covered under the MOU

These issues include enhancing ‘local effects’ of resource extraction, accelerating energy transition through the private sector, and championing energy companies’ adoption of robust environmental, social, and governance. The partnership will also see a continued push toward maximising relationships across the energy value chain, deepening existing relationships in traditionally developed economies, and promoting new relationships across the global South.

The signing was held at the Ministry of Natural Resources (Guyana), witnessed by the minister, Vickram Bharat, and ratified by GOGEC President Manniram Prashad and Suriname Energy Chamber President Orland Olemberg. Also in attendance were Luanna Persaud, vice president of GOGEC; Joel Bhagwandin, director of finance and planning; Rennie Leow, director of information technology and distributed generation and Dillon Clarke, director of energy.