Vice President, Dr. Bharrat Jagdeo has expressed his satisfaction with the recent joint venture signed between Ghanaian company West Coast Oil Ghana and Guyanese/Canadian company E-Magic Inc. This venture aims to offer monitoring services for Guyana’s offshore oil industry. However, he emphasized that the company must follow the established protocol of going through a public tender process, in line with the practices applied to all other entities.
Dr. Jagdeo was at the time responding to inquiries about the government’s intention to incorporate offshore monitoring services into the revised local content legislation. Notably, the current 2021 Local Content Act does not encompass this service within the 40 sub-sectors of services mandated for solicitation from Guyanese enterprises.
While unable to definitively confirm the inclusion of offshore monitoring services in the local content review agenda, Dr. Jagdeo commended the joint venture between the Guyanese/Canadian company and the international counterpart. He acknowledged the significance of the collaboration but underlined the necessity of adhering to the tendering process.
Dr. Jagdeo stated his appreciation for the engagement of Guyanese entities in the venture but emphasized the importance of evaluating the extent of their participation in practice.
The formal agreement for the joint venture was signed during the recent Ghana-Guyana Local Content Summit. West Coast Oil Ghana, a multinational technology firm with a strong oil and gas background and a notable presence in sub-Saharan Africa, brings expertise in developing and delivering technological solutions for the oil and gas sector. They specialize in systems for precise hydrocarbon accounting, effective oil and gas contract management, and proficient petroleum data management.
Conversely, E-Magic Incorporated, founded by Tony Harris, a Canadian with Guyanese roots, is a global technology enterprise. The company, which boasts 100 percent Guyanese ownership, specialises in providing expertise and software for the development, integration, and management of large-scale industrial Internet of Things (IoT) and Azure Digital Twins Solutions.
Amidst the offshore developments being pursued by US oil major, ExxonMobil, this partnership between West Coast Oil Ghana and E-Magic Inc. aspires to provide the government with comprehensive monitoring services for offshore production and exploration activities.