MedservRegis views Suriname as a new frontier in the oil and gas industry, offering strong business opportunity.
The Malta-based industrial logistics firm was recently awarded a major contract with a private client in Suriname, its second in the South American country.
MedservRegis co-CEO Olivier Bernard tells WhosWho.mt that since the industry is still very new in Suriname, there is less on-the-ground expertise and knowledge of its specific requirements and demands, providing an opportunity for the Maltese company.
“If we went to Houston, companies there would probably ask what we’re bringing that they don’t already have, since they already work with firms that do what we do.”
“However, when we go to Suriname, it’s a different story. It’s a new frontier and there’s a lot to be done and learned from the local economy, which means we can make a difference.”
MedservRegis’s Suriname client is an international company which is planning a two-three year project which will involve the deployment of several vessels in the region.
MedservRegis’s task is to handle the considerable logistics that such an operation entails.
“When you have vessels, you need an agent to provide all services associated with it,” Mr Bernard explains.
“It could be that the crew might need to come to port to be flown home. Some new crew could join and sometimes they would need to stay in a hotel.”
“There’s also the immigration aspect. If a vessel comes from overseas, all the crew members need to apply for a Surinamese visa, which means they will need an agent in Suriname to help.”
“There is also the issue of supplies to the vessels – they will require fuel bunkering to operate as well as catering for the crew.”
“MedservRegis will coordinate all of this in Suriname, and since our client has a large fleet it is going to be a large portfolio of services and work for us.”
Mr Bernard explained that the oil and gas industry has two main phases: the search for natural resources and, if they are found, their development and production.
He said it is important for MedservRegis to be present in the early stages of oil and gas exploration so it can potentially capitalise on opportunities during the development and production phase.
This involves a degree of risk, as there is a possibility that the explorers don’t actually strike oil or gas.
“It’s more or less what happened to us a few years ago in Morocco. We went there with a client and opened a base in Agadir but they didn’t find oil so we had to close the entity and let go of the people.”
“It’s never a guarantee that you’ll find oil. Geophysics is very complex and it’s far from being an exact science. Even with all their resources, international energy companies find it hard to know where exactly to drill to find oil or gas.”
Main Image:
