Local businesses in Guyana are now providing 100% of several key services to the oil and gas sector, showing advancements in local content development. Dr. Martin Pertab, Director of Guyana’s Local Content Secretariat outlined these achievements at the recently held SBM Offshore Guyana Let’s talk Local Content Forum. The event was staged on the final day of the Guyana Energy Conference and Supply Chain Expo.
“In 2020, only 5% of certain services were provided by Guyanese companies. Today, that number has reached 100%,” Pertab stated. The fully Guyanese-provided services include scaffolding, transportation, and immigration support, including visa applications.
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These developments reflect the government’s push to ensure that more wealth generated from the industry stays within the country, he said. “It’s about ensuring that wealth generated in the industry stays in country. It will strengthen our supply chain, fostering industrial diversification and creating the lasting economic impact we need,” Pertab explained.
Guyana’s local businesses have moved beyond basic supply roles and are now actively taking part in more technical areas, according to Dr. Pertab. “We have companies that are no longer just providing basic services. They are now in the business of manufacturing flex joints and port joints,” he added.
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The expansion of local ability has led to increased investments and job creation. In 2025, the Local Content Secretariat expects local business participation to grow further, with projected revenue increasing from US$700 million to US$750 million. Employment in the sector is also set to rise, with an added 900 new hires expected, bringing the total number of Guyanese workers in the industry to over 10,000.
Despite these gains, Pertab emphasized the need for continued support for local businesses, particularly small and medium-sized enterprises. “The goal is to create an environment where they can compete not just locally, but regionally and internationally,” he added.
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The Local Content Secretariat is also focused on ensuring contract stability for Guyanese companies. “When a contract is issued to a local company, that creates a legitimate expectation that it will continue for the contract period. This stability is key to fostering long-term investment and growth,” Pertab said.
