Guyer & Regules, contributing to a matter of great national interest that could transform the country, organized the conference “Uruguay: Challenges and Opportunities for a country with oil & gas”, inviting the international expert Farouk Al-Kasim, the man behind the successful Norwegian model, as the keynote speaker.
The opening words were provided by the Minister of Industry, Energy and Mining Carolina Cosse. Attendees also included other relevant authorities and several clients of the Firm with and interest in the subject matter.
The welcome remarks were pronounced by Guyer & Regules’ Senior Partner, Nicolás Herrera, who stressed the importance of the conference and the presence of Farouk Al-Kasim as a contribution to the development of the oil policy, a few weeks prior to the definition of whether or not Uruguay has hydrocarbon resources in its continental shelf.
The Minister Cosse acknowledged the Norwegian example in the oil industry and highlighted the fact that even in possession of very large reservoirs, the country made important investments that ensured its sustainable development.
In his presentation Al-Kasim said he was impressed with the progress that Uruguay has achieved in recent years in the search for hydrocarbons. He also introduced the main characteristics of the Norwegian model but claimed that Uruguay should not copy that model, but rather build its own.
Furthermore, he emphasized the role that the State should play and the importance of building an independent and competent regulatory body, which should not get involved in commercial activities. Additionally, he referred to the main pillars in the management of oil revenues.
Federico Susena and Juan Manuel Mercant, leading partners of the Energy Department at Guyer & Regules, explained the main objectives of the visit of Farouk Al-Kasim to Uruguay, stressing the importance of the exchange of ideas on this matter between the expert and the key national players, both from the public and private sectors.
The guests filled the main room of the Golf Club of Uruguay and attentively followed the presentation of such an international eminence in the oil field.