Guyana should establish National Oil Company – Suriname Oil Boss
Staatsolie CEO Rudolf Elias
Kaieteur News – Given its goal to efficiently monitor and regulate the diverse and profitable oil and gas sector, it would be good for Guyana to set up its own national oil company (NOC). Making this critical disclosure were Rudolf Elias, CEO (CEO) and Managing Director of NOC Suriname, Staatsolie.
During his first appearance on Kaieteur Radio’s Guyana’s Oil & You program, the Suriname Oil Boss highlighted the importance and benefits of having a seat at the table with international oil companies. “Having someone on your team at this table,” he said, will give the country first-hand information about project costs, while keeping transactions transparent.
Elias explained, “They can’t zoom because we’re there to see it and that’s why I say Staatsolie should always have a seat at the table, because we want to know the costs of the different projects because it underpins the inflows the government will have. ”
This, the CEO noted, should be the foundation for establishing an NOC, equipped with competent, skilled individuals who may be the partner of choice for multinational oil companies, such as ExxonMobil, Total or Tullow.
He added, “The NOC is vital so you can partner with them and talk to them on equal terms and if they want to do an ‘A’ you can challenge them. Why do you want to do A? What about B? We can look out for our own interest in making Suriname people prosper; the people who should get the most out of it are the people of Suriname. ”
Guyana should start building knowledge for NOC, the Suriname Oil Boss said, because by paving the way for capacity building, countries are making better deals with the international oil companies, as well as being able to better understand what they are do it. He also added that proper capacity building should be open to all agencies, and not limited to government ministries and institutions.
Elias also stressed that the ability to address commercial aspects of the oil industry should not be ignored. Elias said, “The basis of dealing with the oil companies should always be commercial because at the end of the day, we have to make sure we get as much money as practically possible for the people; and government should have policies that guide spending. ”