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There are spin-off benefits from Exxon operations
Dear Editor,
It is with great amazement I read the criticism in the media about small companies and contractors being able to benefit as a result of ExxonMobil’s operations in Guyana.
At the early stages of exploration and production of oil, the big money usually goes to companies involved in drilling and transporting supplies for the offshore operations. In a country like Guyana – new to the industry – it was always known that local businesses would need to undergo training and capacity building in order to benefit significantly from the opportunities in the industry.
The list that was released last week shows that as companies build capacity to benefit from big opportunities, a number of small businesses and contractors are beginning to benefit from the spin-off effects of ExxonMobil’s operations in the country. All these small enterprises provide employment, pay taxes and contribute to the national economy.
The old saying in Guyana of ‘one one dutty build dam’ cannot be forgotten. Very often, it is small and medium scale business operations that contribute the most, collectively, to the economy, as is the case with the gold mining industry.
To attack and attempt to downplay the significance of these small businesses benefiting from opportunities in the oil and gas sector is unfortunate and points to what appears to be a trend; and that is to denigrate all those involved in trying to help propel this new industry in Guyana.
Sincerely,
Clement Smith
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