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Guyana gets ready with resources of oil industry signs MOUs with Mexican Institute of Petroleum

Mexican institute to help Guyana develop petroleum regulatory agency

Petroleumworld 03 20 2017

The Guyana Government has signed Memorandums of Understanding (MOUs) with the Mexican Institute of Petroleum (IMP) to build capacity in the emerging oil and gas sector, GINA said.

The three MOUs were signed yesterday in the boardroom of the Ministry of Natural Resources, Brickdam between Minister of Natural Resources, Raphael Trotman and Director General of the IMP, Dr Ernesto Ríos Patrón.

The Mexican Ambassador to Guyana, Ivan Roberto Sierra-Medel was quoted by GINA as saying that the MOUs were the most important exchange between the two countries.

“… Their goal (IMP) is to build a two way communication that creates domestic capacities in Guyana and I think this is a step in the right direction,” Ambassador Sierra-Medel said.

Guyana is a new entrant in the oil industry, and sharing Mexico's expertise and experiences with Guyana fosters overall development, Ambassador Sierra-Medel noted.  The IMP in turn stands to benefit by creating technical confidence to eventually provide some services to Guyana.


Dr Ríos noted that the MOUs provide for the creation of three white papers, training of human resources in labour, technical and professional jobs and the creation of a technical background and overall technical framework for Guyana.

GINA said a team from IMP will be in Guyana collecting data to complete the three white papers which have a six-month deadline. Dr Ríos explained that the white papers aim to “build an overall balance of demand and supply of oil and gas in the local industry.”

The team will share its techniques and methodologies and best practices with the government.

The MOUs aim to provide Guyana with lasting technical knowledge and best practices in the industry. The IMP is financing the projects identified in the MOUs. While not providing an exact number, Ambassador Sierra-Medel said it is a “considerable investment”.

The IMP has over 50 years of experience in Mexico's petroleum industry and is the country's leading research centre dedicated to technological research and development, provision of engineering and technical services, training, and awarding degrees, and participating in strategic and technological joint ventures, according to GINA.

Story by Jessica Summers from Bloomberg

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