Guyana's Emerging Oil and Gas Sector: A rise in student mobility?
The recent oil and gas discovering in Guyana has led to countless discussions regarding a potential economic boom and an evolution in the country's economic, social and political landscape. Change is happening in Guyana and more is expected for a long time to come. According to sources via WorldOil, Guyana is one of the world's three most promising deep-water finds and has attracted major corporate oil giants such as Exxon Mobil, Hess and CNOOC's Nexon to conduct off-shore exploration. With Hess Corporation's recent announcement of a 7th discovery offshore Guyana, the country is expected to experience an oil revenue boom.
With the emergence of an oil and natural gas sector, one cannot help but think about the implications it will have on education, particularly, higher education. Both the oil and natural gas sectors are very new to Guyana and there will be a great demand for suitable knowledge, skills and expertise. The increasing presence of foreign investors across various sectors will fuel the need to improve and expand infrastructure.
Should Guyana expect to avoid the 'resource curse', that is predominant in resource rich developing countries, it is critical that there is great investment in the people of Guyana. This would allow for increased and more equitable access to economic opportunities and benefits from this impending oil boom.
Much is to be done to build local capacity. There has already been engagement with external institutes regarding training in key skills such as welding, drilling and other related areas. However, more will be needed as the growth of the oil and gas industry will fuel growth in other sectors. It is hoped that Governments implements a development plan which includes increased financing for higher education opportunities to build local capacity in those areas of priority. Will this therefore impact on the Guyana's rating on the Caribbean Student Mobility Index? The answer will come as we continue to monitor this development. (SA)
Should Guyana expect to avoid the 'resource curse', that is predominant in resource rich developing countries, it is critical that there is great investment in the people of Guyana. This would allow for increased and more equitable access to economic opportunities and benefits from this impending oil boom.
Much is to be done to build local capacity. There has already been engagement with external institutes regarding training in key skills such as welding, drilling and other related areas. However, more will be needed as the growth of the oil and gas industry will fuel growth in other sectors. It is hoped that Governments implements a development plan which includes increased financing for higher education opportunities to build local capacity in those areas of priority. Will this therefore impact on the Guyana's rating on the Caribbean Student Mobility Index? The answer will come as we continue to monitor this development. (SA)
