For Guyanese entrepreneurs, participation in the country’s oil and gas industry may not come directly from offshore operations, but from the network of businesses that support them. As production expands, local companies are finding opportunities to provide services needed by shore bases, contractors, and suppliers that keep offshore activities moving.
Many of these services are delivered onshore, where shore bases, warehouses, fabrication yards, logistics centers, and operator and contractor facilities require reliable suppliers to support daily operations. However, for small and medium-sized businesses, entering this supply chain often requires investment in equipment, vehicles, inventory, technology, and trained personnel.
As plans advance for a Guyana Development Bank, access to financing could help more local businesses build the capacity needed to participate in the country’s growing energy sector. The proposed institution is expected to provide financial support for qualifying borrowers, including microcredit loans of up to GY$3 million (approximately US$14,400), with the threshold subject to adjustment through parliamentary procedures if required.
While the proposed bank’s microcredit facility may not finance major industrial investments, it could help smaller businesses purchase vehicles, commercial kitchen equipment, tools, inventory or technology needed to compete for service contracts.
Earlier in the month, Former Georgetown Chamber of Commerce and Industry President Timothy Tucker issued a call to small and medium-sized enterprises (SMEs) looking to access financing through the proposed Bank, urging them to ‘get their house in order’.
“It’s [GY]$3 million, and so, to established businesses, it might be for them to add a piece of machinery or something to their business, but for a small and micro business, that’s quite a bit of money… Here comes the opportunity now to really put those businesses or those ideas on pen and paper, and really go to the bank to get a loan that is not high interest,” he said on July 5.
Companies seeking to enter the oil and gas supply chain will need to demonstrate the ability to meet industry requirements, including health and safety standards, reliable service delivery, proper financial management, and technical capability.
For entrepreneurs, the potential market extends across several areas of support services.
Every new floating production, storage and offloading (FPSO) vessel increases demand for transportation, accommodation, warehousing, maintenance, catering and industrial support services, creating opportunities for businesses that may never operate offshore but remain part of the industry’s supply chain.
These businesses must be prepared with trained workers, proper equipment, quality control systems, and the ability to maintain consistent service.
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Equipment rental companies can also support industrial activity by providing assets such as generators, compressors, lifting equipment, scaffolding, and specialized tools. For smaller businesses, rental services can provide an entry point into the sector by allowing contractors to access equipment without making large capital purchases.
Technical services, including fabrication, welding, and repair work, are also expected to remain important as offshore developments move beyond construction and into long-term operations.
Beyond financing, training and business development support are also available through organizations such as the Centre for Local Business Development, which provide supplier training and strategic programs aimed at helping companies meet the requirements of the oil and gas industry. The Local Content Secretariat is also working to strengthen local participation by addressing skills gaps and expanding opportunities for Guyanese businesses.
The ability to access financing will give more companies a chance to enter the energy supply chain, but success will depend on preparation. Businesses that understand market demand, build the necessary systems, and meet industry standards will be better positioned to provide the services required for Guyana’s offshore sector.
