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FM
Former Member
Oil’s well that ends well

By Sir Ronald Sanders
Thursday, February 16, 2012
Source - Caribbean360

"Guyana should invest urgently in modernising and upgrading the country’s institutions of learning."--Sir Ronald Sanders

Guyana’s economy is benefitting from millions of dollars being pumped by two companies into their operations.

BRIDGETOWN, Barbados, Thursday February 16, 2012 - Oil wells off the coast of South America’s only English-speaking country, Guyana, are now being drilled in earnest. Already Guyana’s economy is benefitting from millions of dollars being pumped by two companies into their operations. Should the drilling release the expected millions of barrels of oil and trillions of cubic feet of natural gas, the country’s economy will boom.

However, a booming economy must ultimately produce top jobs for locals from what will become its highest-paying industry. If it fails to spread the benefits of high earnings across the entire community, the industries will become as much a cross as a crutch.

The companies that have started drilling are Canadian-based CGX, and Spanish-based Repsol. Shares in both companies are publicly traded, and Guyanese persons and companies have invested in them. Repsol, in partnership with CGX, Tullow and YPF is drilling a 6,500-meter (21,000 feet) well in the Guyana Basin that experts claim could hold up to 15 billion barrels of oil and 42 trillion cubic feet (1.2 trillion cubic meters) of natural gas. Separately, CGX is drilling in the same basin to a depth of 4,250 meters (13,730 feet). The cost of the drilling operations is in excess of US$200 million over the next six months in the first instance.

In Guyana’s pre-independence period – as in Jamaica and Trinidad and Tobago – the mining sectors, bauxite, petroleum and asphalt – were dominated by expatriates who filled the top management, finance, marketing and technical positions. Because of the absence of local skills this was almost inevitable. This is not a situation that Guyana should sleep-walk into again.

Having had no prior experience of the oil and gas industries, there is a chronic lack of skills in the Guyanese population to fill top managerial and technical positions. The University of Guyana and other technical schools are not training students to the required levels in drilling, design, mining, electrical, chemical, mechanical and petroleum engineering. Yet, all these skills and more will be required soon and over the coming decades. There will also be a need for geophysicists, geologists, and geochemists.

Consequently, the government of Guyana should invest urgently in modernising and upgrading the country’s institutions of learning to cover not only these subject areas, but also to provide training in management, marketing and accounting for the oil and gas industry.

Forty years ago, when oil and gas became key industries in Norway, there were few Norwegians with any skills or training to fill managerial and technical positions. Expatriates were brought in to carry out the required tasks, earning a disproportionate income to Norwegians. Wisely, the Norwegian government invested heavily in training its nationals and, today, the vast majority of qualified workers at every level of the industries are Norwegian, including Norwegian women.

Guyana will not be able to train sufficient people in the short-term to fill high-level managerial and technical positions in the industries, but it should start to do so as quickly as possible. Some portion of the monies being paid to the government now by the companies that have already started exploring, and those that will do so shortly, should be specifically allocated to provide such skill training by qualified lecturers and trainers many of whom would have to be recruited from abroad in the beginning.

The government would also do well to offer places to interested nationals from countries of the Caribbean Community and Common Market (CARICOM) who could study at institutions in Guyana, and feed the oil and gas industries with the skills they need.

It would make good business sense for the oil companies to give strong support to the government in such a move. Guyanese and CARICOM nationals, recruited in Guyana, will come at a less expensive cost than importing expatriates whose contracts usually include a range of extra benefits to attract them to foreign countries. Of course, expatriates will still be required for specialist activity, but the demand would not be as great if qualified Guyanese and Caribbean nationals are available.

Sir Ronald Sanders

This argument also applies to the large-scale gold and diamond mining operations that are scheduled to start soon under contracts signed with two Canadian-based companies. The skills training in this area includes regulation, environmental safety as well as mine planning engineers and mine surveyors.

With regard to safety, both CGX and Repsol made a good start by publishing and explaining emergency response plans should their drilling operations lead to oil pollution. This kind of transparency, open to public scrutiny, will boost confidence in the companies and engender a high degree of national support.

Helpfully, the Commonwealth Secretariat, under its technical assistance programme, has provided expertise to the Guyana government to advise on matters such as systems and practices for the development of the mining industry, the upgrading of laws and policies, and the methodologies that are necessary to improve the overall framework for the mining sector. Properly administered systems will benefit the government as well as the oil, gas and mining companies.

What’s needed now is training institutions to qualify Guyanese for top managerial and technical positions in the new and expanded industries, and a Guyana National Wealth Fund in which government’s annual earnings could be placed for medium and long-term investment. Only a Parliamentary-approved portion of the capital and the annual interest should be used to help fund the country’s national annual budget.

The Norwegian model recommends itself. Throughout the current global financial crisis, and previous ones, Norway maintained a sound economy and a strong fiscal position because it has been fortified by interest payments from its National Wealth Fund in which a significant portion of its oil and gas revenues are saved. Today, the Fund is worth US$450 billion, owns more 1% of the World’s assets, and gives Norway a healthy annual income that helps to provide a high standard of living for its people.

In the coming decades, that could be the Guyana story too. Click here to receive free news bulletins via email from Caribbean360. (View sample)

The opinions expressed in this commentary are solely those of Sir Ronald Sanders. Sir Ronald Sanders is a Consultant and former Caribbean diplomat.

Replies sorted oldest to newest

Nah mek worries, abie gon senn we chilrun to achool and ga import nuff nuff dem coolie bais from India. Remembea, wenn dem find da aile, if cupple well years before ting develop fully. Abie knoo da and abie a wach how tings ah goa. But abie muss start educating abie kids now, an' da PPP know datt.
FM
Demerara-Guy,

CGX's stock price have risen from $.50 to $1.27 in the last six months. We are hearing alot of talk about this operation in the international media. If oil and gas is discovered CGX stockholders stand to benefit handsomely. I'm beginning to take this thing more seriously. When huge amount of resources are devoted to such an operation and the international media is paying close attention that's enough reason to be somewhat optimistic.

Good Luck Guyana
Billy Ram Balgobin
quote:
Originally posted by Sledgehammer:
Nah mek worries, abie gon senn we chilrun to achool and ga import nuff nuff dem coolie bais from India. Remembea, wenn dem find da aile, if cupple well years before ting develop fully. Abie knoo da and abie a wach how tings ah goa. But abie muss start educating abie kids now, an' da PPP know datt.



Looking for a creolese translator. Postings like above gave me a real headache to read....that's why I (like most of the GNIers here) ignore the 100% use of the vernacular. Try sprinkling some of the native tongue you grew up in - some form of English.
Kari
quote:
Originally posted by cain:
Any new stamps out to commemorate this?


ah see yu struggle fu mek ah comment hey...you cannot say congrats to your dear land of Guyana you hater.
FM
quote:
Originally posted by Kari:
quote:
Originally posted by Sledgehammer:
Nah mek worries, abie gon senn we chilrun to achool and ga import nuff nuff dem coolie bais from India. Remembea, wenn dem find da aile, if cupple well years before ting develop fully. Abie knoo da and abie a wach how tings ah goa. But abie muss start educating abie kids now, an' da PPP know datt.



Looking for a creolese translator. Postings like above gave me a real headache to read....that's why I (like most of the GNIers here) ignore the 100% use of the vernacular. Try sprinkling some of the native tongue you grew up in - some form of English.


u head so far up the wite man a$$ so till yu tink yu wite...go soo yu lozer
FM
quote:
Originally posted by Kari:
quote:
Originally posted by Sledgehammer:
Nah mek worries, abie gon senn we chilrun to achool and ga import nuff nuff dem coolie bais from India. Remembea, wenn dem find da aile, if cupple well years before ting develop fully. Abie knoo da and abie a wach how tings ah goa. But abie muss start educating abie kids now, an' da PPP know datt.



Looking for a creolese translator. Postings like above gave me a real headache to read....that's why I (like most of the GNIers here) ignore the 100% use of the vernacular. Try sprinkling some of the native tongue you grew up in - some form of English.

Ow bai, look how alyuh wite-coolies ah laff abie donk hay, but alyuh wait fa lil aile foa rush bak. If yuh cyant andastaan wah meh rite, den yuh nah belang in abie kuntry. Gwan soa!
FM
quote:
Originally posted by Kari:
Looking for a creolese translator.


I could have sworn you are Guyanese.

The Rev enjoys reading Sledge's Guyanese country talk---brings back sweet memories.

By the way, if you are, indeed, Guyanese then you are a fake, phony fraud.

How dare you berate a fellow Guyanese using everyday "raw" Guyanese country talk ?

The Rev admires Sledge's uniqueness.

Rev
FM
quote:
Originally posted by Billy Ram Balgobin:

Demerara-Guy,

CGX's stock price have risen from $.50 to $1.27 in the last six months. We are hearing alot of talk about this operation in the international media. If oil and gas is discovered CGX stockholders stand to benefit handsomely.

I'm beginning to take this thing more seriously. When huge amount of resources are devoted to such an operation and the international media is paying close attention that's enough reason to be somewhat optimistic.

Good Luck Guyana


There are reasons why oil was not vigourously explored in the past.

Times have changed and Guyana will benefit from its oil deposits.
FM
quote:
Originally posted by SuperMike:
quote:
Originally posted by cain:
Any new stamps out to commemorate this?


ah see yu struggle fu mek ah comment hey...you cannot say congrats to your dear land of Guyana you hater.



Now where on earth dd you see me hating here?
Wanna bet you will see that pic or something like it on a stamp when, and I did say when the black gold starts gushing?
I wish Guyana "well"

See, I coulda jus be my ordinary self and tell you to carry yo rass da side.
cain
quote:
Originally posted by Rev Al:
quote:
Originally posted by Kari:
Looking for a creolese translator.


I could have sworn you are Guyanese.

The Rev enjoys reading Sledge's Guyanese country talk---brings back sweet memories.

By the way, if you are, indeed, Guyanese then you are a fake, phony fraud.

How dare you berate a fellow Guyanese using everyday "raw" Guyanese country talk ?

The Rev admires Sledge's uniqueness.

Rev

Dem goa up deh, learn yankee talk an' tink dem bettah dann abie. Abie goa UG, travel to Merica and Cyanada and ah mek good piasa and tek care we gyals and pickneys. Diss is natt Merica, diss is survival fa coolies. Alyuh geh wan Black prezzy up deh but alyuh safe cazz dem police, army, congress, senate and all datt shyte a full wid wite man. Yu put da PNC in powah donk hay, banna abie coolies done fa, daag food, so alyuh gwan soa.
FM
quote:
Originally posted by cain:
quote:
Originally posted by SuperMike:
quote:
Originally posted by cain:
Any new stamps out to commemorate this?


ah see yu struggle fu mek ah comment hey...you cannot say congrats to your dear land of Guyana you hater.



Now where on earth dd you see me hating here?
Wanna bet you will see that pic or something like it on a stamp when, and I did say when the black gold starts gushing?
I wish Guyana "well"

See, I coulda jus be my ordinary self and tell you to carry yo rass da side.


Big Grin Big Grin
FM
quote:
Originally posted by Rev Al:
quote:
Originally posted by Kari:
Looking for a creolese translator.


I could have sworn you are Guyanese.

The Rev enjoys reading Sledge's Guyanese country talk---brings back sweet memories.

By the way, if you are, indeed, Guyanese then you are a fake, phony fraud.

How dare you berate a fellow Guyanese using everyday "raw" Guyanese country talk ?

The Rev admires Sledge's uniqueness.

Rev


The English language is difficult for you, yuh Cunumunu. I talked about 100% use of creolese - and this takes a longer time to read. Fool, understand that speaking and listening to creolese are pleasing, but reading the damn thing is tough when it's 100%.
Kari
quote:
Originally posted by SuperMike:
quote:
Originally posted by Kari:
quote:
Originally posted by Sledgehammer:
Nah mek worries, abie gon senn we chilrun to achool and ga import nuff nuff dem coolie bais from India. Remembea, wenn dem find da aile, if cupple well years before ting develop fully. Abie knoo da and abie a wach how tings ah goa. But abie muss start educating abie kids now, an' da PPP know datt.



Looking for a creolese translator. Postings like above gave me a real headache to read....that's why I (like most of the GNIers here) ignore the 100% use of the vernacular. Try sprinkling some of the native tongue you grew up in - some form of English.


u head so far up the wite man a$$ so till yu tink yu wite...go soo yu lozer


Ass-wipe, you just used 10 English words, 4 SMS abbreviations, and only 5 creolese words. So you just made my point - sprinkle the sentences with SOME English words so it takes half the time to read.
Kari
quote:
Originally posted by Sledgehammer:
quote:
Originally posted by Rev Al:
quote:
Originally posted by Kari:
Looking for a creolese translator.


I could have sworn you are Guyanese.

The Rev enjoys reading Sledge's Guyanese country talk---brings back sweet memories.

By the way, if you are, indeed, Guyanese then you are a fake, phony fraud.

How dare you berate a fellow Guyanese using everyday "raw" Guyanese country talk ?

The Rev admires Sledge's uniqueness.

Rev

Dem goa up deh, learn yankee talk an' tink dem bettah dann abie. Abie goa UG, travel to Merica and Cyanada and ah mek good piasa and tek care we gyals and pickneys. Diss is natt Merica, diss is survival fa coolies. Alyuh geh wan Black prezzy up deh but alyuh safe cazz dem police, army, congress, senate and all datt shyte a full wid wite man. Yu put da PNC in powah donk hay, banna abie coolies done fa, daag food, so alyuh gwan soa.



you know what's assinine is when jasckasses start using Jamaican phonetics like "fa" instead of "fuh" 'as we Guyanese grow up using. This lame attempt at writing Creolese phonetics is just a charade. Yuh cyant even use de rite fonetiks....
Kari
quote:
Originally posted by Kari:
quote:
Originally posted by Sledgehammer:
Dem goa up deh, learn yankee talk an' tink dem bettah dann abie. Abie goa UG, travel to Merica and Cyanada and ah mek good piasa and tek care we gyals and pickneys. Diss is natt Merica, diss is survival fa coolies. Alyuh geh wan Black prezzy up deh but alyuh safe cazz dem police, army, congress, senate and all datt shyte a full wid wite man. Yu put da PNC in powah donk hay, banna abie coolies done fa, daag food, so alyuh gwan soa.



you know what's assinine is when jasckasses start using Jamaican phonetics like "fa" instead of "fuh" 'as we Guyanese grow up using. This lame attempt at writing Creolese phonetics is just a charade. Yuh cyant even use de rite fonetiks....

Mi nah knoo yu bin Jamaican. Nah mek worries, mi fogive yuh. Do fuh do nah odeah, as dem seh.
FM
quote:
Originally posted by Rev Al:
quote:
Originally posted by Kari:
Looking for a creolese translator.


I could have sworn you are Guyanese.

Sledge's uniqueness.

Rev


Not all of us come from Sledge's homeland deep some where on the Corentyne.

We Georgetown people dont say "Ahbie". Nor is there a standardized written form of creolese.
FM
quote:
Originally posted by caribj:
quote:
Originally posted by Rev Al:
quote:
Originally posted by Kari:
Looking for a creolese translator.


I could have sworn you are Guyanese.

Sledge's uniqueness.

Rev


Not all of us come from Sledge's homeland deep some where on the Corentyne.

We Georgetown people dont say "Ahbie". Nor is there a standardized written form of creolese.


and CaribJ points out the Indian/Black aspect of it........why didn't I think of it?..... Big Grin
Kari
quote:
Originally posted by Kari:
[and CaribJ points out the Indian/Black aspect of it........why didn't I think of it?..... Big Grin



OH so all IndoGuyanese say "ahbie".

I learnt something. yippie


BTW Chief will be insulted if you imply that there arent blacks deep in the Corentyne.

Oh also suspect many will be surprised to know that only blacks live in Gtwn.
FM
quote:
Originally posted by Kari:
Sledgy, you're smarter than this crap. The question is why the need for the attention? Got a lot of heart breaks? Big Grin

Nah mek worries bai. Mi lil dougla gyaal alway gi mi heartbreak.
FM
quote:
Originally posted by Sledgehammer:
quote:
Originally posted by Kari:
Sledgy, you're smarter than this crap. The question is why the need for the attention? Got a lot of heart breaks? Big Grin

Nah mek worries bai. Mi lil dougla gyaal alway gi mi heartbreak.


Yuh gats fuh brush up on yuh creolese. It's "nah tek worries" and not "nah mek worries"
Kari
quote:
Originally posted by Kari:
quote:
Originally posted by Sledgehammer:
quote:
Originally posted by Kari:
Sledgy, you're smarter than this crap. The question is why the need for the attention? Got a lot of heart breaks? Big Grin

Nah mek worries bai. Mi lil dougla gyaal alway gi mi heartbreak.


Yuh gats fuh brush up on yuh creolese. It's "nah tek worries" and not "nah mek worries"

bai, both wuk, depends if yuh mekkin or tekkin trubble. Wink
FM
quote:
Originally posted by Wally:
If these two companies find plenty of oil and gas then Donald is going down in history as Guyana's greatest President when the royalty money starts to flow in.


Mi tell dem PPP bais, dem bettah play diss rite and straight wid America. If dem goa screw roun with dem bad bais, abie coolies gon get shove a battam again and wish we wass dagg food. We muss mek frenn wid Merica and Brazil especially. Wid dah, dem PNC Buxton bais nah gon get demm wayzz.
FM

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