By Cristina Caus

News Americas, FORT LAUDERDALE, FL, Thurs. July 6, 2023: In the midst of the oil and gas euphoria, the world’s fastest-growing economy—Guyana, is facing a challenge, a human resources shortage.

With a projected growth of around 25.8 % between 2022-2024, which translates into an increase in the production of goods and services and an increase in capital goods, like assets used by businesses for production (buildings, machinery, equipment), labor force demand increase is quite a natural reaction too. Human resources are vital to economic development as without them the other resources, such as the ones mentioned, can’t be mobilized.

There is currently a pronounced gap between the industry labor demand and the availability of skilled workers. According to the 2020 Labor Migration Study by IOM (International Organization for Migration), Guyana will need at least 100,000 workers to realize its full growth potential.

Amid the human capital shortage, US Secretary of State Antony Blinken visited Georgetown, Guyana on July 6, 2023. (Photo by KENO GEORGE/AFP via Getty Images)

The question is how to satisfy this need.

Taking a closer look at Guyana’s demographic situation we can get an understanding of the opportunity and the challenge arising. Guyana had a population of 810,900 in January 2023, 51% female dominated and almost 73% based in rural areas. The median age of the population is 25.9 and about 54% are working-age with an average total of 28% between the ages of 18-34. Many suggestions and implementations have sprouted at the public and private levels as a result to address the labor resource challenge. The high percentage of young adults is a positive factor as this is an opportunity both for the government and the private sector to invest in them as a short-term strategy. Applications of non-traditional ways, such as paid internships, technical training, apprenticeships, and entrepreneurship programs would connect and enroll them in the employment system faster and at a higher rate, based on where the need is greater. The private sector has been doing its part. ExxonMobil Guyana for example, decided to take a multi-tiered approach by building local talent. As shared by them earlier this year, the US$160 million Ogle Operations Center, in construction now, is proof of long-term investment in Guyana’s prosperity and future workforce. This modern center in Guyana aims to control Exxon’s offshore operations and around 130 expats are now training locals through comprehensive mentoring programs in place to ensure that Guyanese will run the operations soon.

Under 35% of the population are below the age of 17 which presents an opportunity long-term. The government with the World Bank will be financing US$44 million Guyana Strengthening the Human Capital Project, with a focus on expanding access to quality education at the secondary level and improving technical and vocational training (TVET) to meet the needs of the labor market. The funding aims to prepare Guyanese citizens to excel in emerging sectors of the economy including climate-resilient agriculture, low-carbon technology, and digital development.

A slightly higher female availability can be used as an advantage by redirecting them and fostering their participation in STEM career paths. The challenge lies on the other hand in the fact that most of the population is in rural areas and would require significant investments from the government in improving the infrastructure and education system in the rural areas to leverage this resource group.

The response of the national education system to address the present and future market skills needs will take some time to roll out, therefore other labor sources for the short term needs can be considered, such as educational supply via out-of-country providers and imported skilled workforce via immigration.

Guyana has been seeing an increase in population for the past few years, with a 0.63% increase from 2022 to 2023. Some of it is the result of migration; as a CARICOM member, Guyana will be witnessing this trend for the years to come, especially from the neighboring oil and gas nations. That’s why the assurance of a structured migration policy with the modernization of the legislative and institutional framework should be a priority.

There is one untapped source for the much-needed talent and workforce, a source that has been turning some heads recently and that should be explored seriously, the Diaspora. Surprisingly enough, based on a Forbes report, Guyana accounts for the largest diaspora population in the world by percentage, with around 36.4% native-born population residing abroad. The top 3 locations chosen by the Guyanese diaspora are the UK, USA and Canada.

The country experienced years of instability and corruption after its detachment from Britain (1966) which forced the people to leave. With the recent oil and gas discovery, this promising economic shift should serve as a catalyst to attract the Guyanese Diaspora back home. As Foreign Secretary, Robert Persaud highlighted, the diaspora is seen as “an asset to the country’s development”. 

Two questions to be addressed are how to attract the diaspora back and what are the benefits of it.

Attracting the diaspora requires more than appealing to the patriotic sentiment of the citizens, it needs clear actions and better economic prospects in the country. The key variables to attract the migrants back home are: 1. programs and attractive conditions, 2. good and safe economic environment 3. career growth and investment opportunities. Examples of reverse brain drain programs applied like in countries such as Ireland and Korea, who offer incentives and generous packages to lure back the migrants can be a solution. Competitive remuneration and adequate living conditions combined with opportunities to fill top positions at multinationals and corporations as well as opportunities for those looking to launch their businesses to create more jobs and sustain nations’ economic growth can be very attractive for those who return.

The benefits of attracting the diaspora back to Guyana are many. It greatly contributes to an increase in return tourism, expenditures on transportation and telecom services and trade. Bringing back the Diaspora means mobilization of wealth towards the country of origin, Guyana,  through their direct investments and through foreign investors who gain more confidence to invest as a result. The Diaspora can also serve as a main source of skills and knowledge transfer,through their gained valuable experience, education and skills from abroad. This can be used both to close the skilled labor gap by direct employment and to feed the local private sector development through businesses, training and mentoring the local workforce.

An example of successfully attracting the diaspora back is Poland. Poland went through massive migration when it joined the European Union (EU) in 2004. Since then, the economy has stabilized, becoming a tech hub for many multinationals and the sixth-largest economy in the EU. In 2018, the Polish Prime Minister urged the diaspora to return to Poland as the country struggled with a labor shortage. Amongst many other things, in 2022, Poland’s Finance Ministry set up the “Polish deal” whereby some of those who return won’t have to pay a zloty in income tax for the first four years after resettling to the country. Poland’s reversed brain drain strategy seems to have encouraged about 200,000 Poles to consider returning to their homeland from the UK, so far.

Guyana is not quite there as Poland, but its growth is fueled now by the abundance of both natural resources (oil) and capital resources brought by foreign investment, businesses and revenue from oil. However, this could be slowed down by its labor shortage in the near future. Therefore, strengthening relations with the diaspora in parallel with internal attractive reforms should be at the top of the government’s agenda.

EDITOR’S NOTE: Cristina Caus is an international oil and gas/ energy consultant and business developer, with master’s degree in international business in Europe and in the United States.

News Americas, NEW YORK, NY, Mon. July 3, 2023: Structuralia, a leader in specialized online education for engineers, in collaboration with the Organization of American States (OAS), is proud to announce the opening of 100 new partial postgraduate scholarships covering 50% of the tuition fee of the selected online master’s degree.

The main purpose of this initiative is to facilitate access to high-quality education and academic excellence for professionals and students from Latin America and the Caribbean interested in expanding their knowledge and skills in areas such as civil engineering; industry, energy, and environment; architecture and building; leadership and management; and digital transformation.

The selection process of the beneficiaries is rigorously carried out, taking into account the ideal profile of the candidates for the chosen master’s degree, the fulfilment of the requirements (being resident in an OAS member country and writing a motivation letter) and the submission of the necessary documentation with their application (copy of identity card, CV/resume and university degree).

The application period for the postgraduate scholarships is open until July 14th, 2023. Those interested can obtain more information on everything related to these scholarships on this website: becasoea.structuralia.com

By Dr. Lorraine Sobers

News Americas, PORT-OF-SPAIN, Trinidad, June 29, 2023: Guyana has launched into the energy sector at an historic time as the world begins the energy transition away from predominant fossil fuels to increasing renewable energy use. Starting in 2015, the country rapidly scored several large offshore oil discoveries and is now steadily increasing oil production to exceed 1 million barrels of oil per day by 2027. There is an underlying urgency to produce as much as possible before the demand and possibly price of oil declines. But it is not all about producing as much oil as quickly as possible. According to reputable technical reports from the United Nations Framework Convention on Climate Change (UNFCCC), the survival of the planet is at stake.

In the simplest terms “sustainable energy” refers to energy generation that does not compromise the survival of the environment.

The Energy Chamber of Trinidad and Tobago recently hosted the Caribbean Sustainable Energy Conference, (CSEC), to discuss sustainable energy under the theme, “Ideas to Projects”. In continuing the discussion from last week, I will discuss the advancement of hydrogen as an alternative fuel and Carbon Capture and Storage (CCS) to reduce CO2 emissions.

Hydrogen is a clean fuel suitable for long distance transportation and heavy industries where wind and solar are insufficient. It can be stored in liquid form and is lighter than batteries or fossil fuels. Hydrogen is referred to by colors such as blue, green, grey or purple due to its origin and manufacturing process. Green hydrogen is produced by water electrolysis powered by renewable energy. This form of hydrogen was the basis of projects featured by several companies at CSEC. Recently Deloitte estimated that the green hydrogen market will be worth USD 1.4 trillion by 2050 with the demand for global hydrogen growing six-fold by 2050. Along with this expansion, 2 million jobs can be supported annually worldwide.

Picture of the Potaro River running across the Kaieteur National Park which sits in a section of the Amazon rainforest in the Potaro-Siparuni region of Guyana. (Photo by PATRICK FORT/AFP via Getty Images)

Natural gas can also be used to produce hydrogen by a process called steam reforming. However, this process emits CO2 which will have to be sequestered — stored in the subsurface or converted to useful products with carbon in permanent solid form — to be considered sustainable. With sequestering, the hydrogen produced is categorized as blue hydrogen, without it the hydrogen is labelled as grey hydrogen. Guyana has the potential to produce green, blue or grey hydrogen. Green hydrogen can be produced using hydropower or any other type of renewable energy. Either blue or grey hydrogen can be produced using excess natural gas brought to shore. As shipping vessels and possibly aircrafts begin to use hydrogen as fuel in the future, Guyana may be well positioned to supply green hydrogen for long distance transportation.

Carbon Capture Utilization and Storage (CCUS) is a large-scale solution for reducing CO2 emissions. Basically, CO2 is collected (captured) at the source of emissions. It can then be utilized in another process where the carbon atoms are integrated into a solid product such as concrete or plastic, permanently removing it from the atmosphere. Alternatively, it can be stored in the subsurface, deep underground by injecting it into saline (salt water) aquifers or depleted hydrocarbon reservoirs. This technology has been in use in the Sleipner Field, North Sea, offshore Norway for two decades. Continuous monitoring has shown that the injected CO2 is trapped within the rock pores. There is nothing new about CO2 being stored in the subsurface as this occurs naturally in Colorado and New Mexico, US for example. CO2 injection is not new to oil production operations; this process is used to enhance heavy oil recovery for over sixty years.

I was fortunate to be invited to speak on a panel at CSEC 2023. In my presentation I outlined three things Caribbean countries ought to consider before embarking on CCUS projects:

National Development Priorities

Developed countries, like Norway, which have energy, food and water security with adequate healthcare, education and infrastructure provided for citizens, are able to place CO2 emission reduction as a top priority. Typically, these countries also have decades of historically high emissions. It has been difficult for developing countries, with historically miniscule CO2 emissions, to fund climate adaptation projects and finance CO2 emission reduction projects. They are forced, however, to grapple with the effects of climate change as they face more extreme and frequent climatic events such as changing rainfall patterns, floods, drought and storms. Nevertheless, investing in CCUS technology and projects can increase revenue potential for offsetting carbon emissions or decarbonizing an activity or operation. In this way, CCUS can be viable and accepted in countries like Guyana.

 Public Awareness

Public awareness and acceptance are critical to the success of CCUS especially if pipeline transport on land is required. The general public and policy makers need to have a clear understanding of the science behind CCUS. They need to have confidence that CO2 can be safely captured, transported, injected and permanently stored. After conducting research on the engineering aspects of CCS, I spent almost 15 years writing and making presentations about CCUS to a wide audience that included economists, political scientists, investment bankers, social scientists, historians and project managers. I realized it was not enough to make technical presentations to engineers and geoscientists. I dedicated efforts to public awareness because I believe it is better to discuss the risks and rewards of CCUS before it becomes a contentious subject. In Guyana CCUS is not a front burner topic yet but it will come into focus as natural gas comes to shore.

Mission and Objectives for CCUS

A clear mission and objectives are needed for any project. It is important not to lose sight of the fundamental reasons for deploying CCUS in each particular national circumstance. CCUS can reduce CO2 emissions but in regions with a low carbon footprint, the emission reduction impact is negligible. Therefore, each project involving CCUS must be based on SMART (Specific, Measurable, Achievable, Relevant and Time-Bound) goals that tie into a broader vision and a clear mission that serves national interest. If this fundamental step is overlooked, and it can happen quite easily, projects may serve external demands with no real impact while jeopardizing urgent domestic needs.

Finally, in both developing and developed countries, hydrogen and CCUS projects are unique opportunities for the energy sector to establish new industries, create employment for environmentally conscious young professionals and provide impactful, innovative solutions for providing sustainable energy.

EDITOR’S NOTE: Dr. Lorraine Sobers is a Fulbright Scholar currently lecturing at The University of the West Indies, St. Augustine in the Petroleum Studies Unit. Dr. Sobers has 20 years’ experience in the energy sector specializing in Carbon Capture and Storage (CCS) and Enhanced Oil Recovery (EOR). She has a keen interest in using her technical expertise for the development of low carbon development policies. Dr. Sobers is a Fellow of the Caribbean Policy Consortium and a member of the Global Americans Global High-Level Working Group on Climate Change in the Caribbean.

News Americas, KINGSTON, Jamaica, June 28, 2023: ibex (NASDAQ: IBEX), a leading global provider of business process outsourcing (BPO) and customer engagement technology solutions, today announced that Tamara Ricketts-Brown has been appointed Senior Vice President and Country Manager of ibex in Jamaica.

With more than 20 years of experience serving the Retail, Travel, Finance, and Insurance verticals and leading multiple departments, including HR, Recruiting, Facilities, Security, and Employee Engagement, Ricketts-Brown will lead ibex’s operations in Jamaica and report to David Wilkerson, EVP of Operations at ibex.

“We are delighted to welcome Tamara to the growing ibex family,” said David Afdahl, Chief Operations Officer at ibex. “A dynamic operations leader with deep CX experience and a proven track record of success in managing and developing large teams, Tamara is the ideal person to drive our continued growth and success in Jamaica.”

Prior to joining ibex, Tamara was with Sutherland Global Services for five years. Previously, she spent more than 13 years at Xerox in multiple senior-level roles, including Division Vice President. Tamara holds an MBA from the University of Sunderland.

“I am excited to join ibex and lead the company’s fast-growing operations in Jamaica,” said Ricketts-Brown. “ibex brings together the best talent, training, culture, and technology in Jamaica to deliver amazing customer experiences for many of the world’s leading brands. I look forward to applying my skills, expertise, and passion to build on ibex’s tremendous success by developing and implementing initiatives that create an even better experience for our employees and greater value for our clients.”

Since opening its first site in Jamaica in 2016, ibex has been recognized for its culture, employee experience and development, and service, having been selected as Best Place to Work for Women in Central America and the Caribbean by Great Place to Work, Nearshore Company of the Year by Nearshore Americas, and Central America and Caribbean Company of the Year by Frost & Sullivan.

About ibex   
ibex delivers innovative business process outsourcing (BPO), smart digital marketing, online acquisition technology, and end-to-end customer engagement solutions to help companies acquire, engage, and retain valuable customers. Today, ibex operates a global CX delivery center model consisting of 34 operations facilities around the world, while deploying next-generation technology to drive superior customer experiences for many of the world’s leading companies across retail, e-commerce, healthtech, fintech, utilities and logistics. 

ibex leverages its diverse global team of over 30,000 employees together with industry-leading technology, including its Wave X platform, to manage nearly 200 million critical customer interactions, adding over $2.2B in lifetime customer revenue each year and driving a truly differentiated customer experience. To learn more, visit our website at ibex.co and connect with us on LinkedIn.

News Americas, NEW YORK, NY, Sat. June 24, 2023: Former Google CEO Eric Schmidt has made waves in the maritime world with his successful bid for the abandoned superyacht of Russian oligarch Andrey Guryev.

The captivating auction took place in the Caribbean island of Antigua and Barbuda, where Schmidt emerged as the victor, acquiring the luxurious 267-foot Alfa Nero yacht for a staggering $67.6 million.

Andrey Guryev, a Russian billionaire who had previously faced sanctions from the US Treasury, originally acquired the Alfa Nero yacht back in 2014. The Treasury Department claims that Guryev had purchased the vessel for a whopping $120 million, though he vehemently denies this allegation. Nevertheless, the yacht ended up abandoned and moored in Antigua, waiting for a new owner to seize its potential.

The sale came after the Us removed the Super Yacht Alfa Nero from its sanctions list, leaving the government of Antigua and Barbuda at its owner and therefore able to sell it.

Sir Ronald Sanders, Antigua’s ambassador to the United States, confirmed that Schmidt’s bid prevailed in a truly “open and competitive manner,” according to Bloomberg reports.

The Alfa Nero yacht, crafted by renowned manufacturer Oceanco, is widely regarded as one of the world’s most iconic and highly awarded vessels. Its opulent features and amenities offer an unrivaled yachting experience. From the grandeur of a baby grand piano to the indulgence of a swimming pool that ingeniously converts into a helipad, every detail of this superyacht exudes luxury and sophistication.

The decision to sell the Alfa Nero yacht in Antigua and Barbuda was driven by the mounting maintenance costs that accrued during its extended stay in Falmouth Harbor. With expenses amounting to approximately $112,000 per month, it became imperative for the local authorities to find a suitable buyer who could provide the vessel with the care it deserves.

Eric Schmidt, former CEO and Chairman, Google. (Photo by PATRICK T. FALLON/AFP via Getty Images)

Schmidt’s successful bid for the Alfa Nero yacht is yet another milestone in his illustrious career. Prior to his acquisition, Schmidt served as the CEO of Google from 2001 to 2011, overseeing a period of remarkable growth and innovation for the technology giant. His subsequent roles as the executive chairman of both Google and Alphabet further solidified his prominence in the business world.

The context surrounding this acquisition adds another layer of intrigue to the story. The international community imposed sanctions on several Russian oligarchs, including Andrey Guryev, following the invasion of Ukraine. This event had far-reaching consequences, leading to financial restrictions and altered dynamics among the global elite.

In a surprising twist, Guryev’s daughter filed a last-minute injunction claiming ownership of the Alfa Nero yacht. This unexpected legal maneuver added suspense and complexity to an already captivating tale. The involvement of legal proceedings is sure to draw attention as the story continues to unfold.