Guyana’s Local Content Act (LCA) continues to create opportunities for domestic businesses, with millions earned by Guyanese firms in offshore catering, construction, and engineering in 2025. This is according to Finance Minister, Dr. Ashni Singh.
To date, over 1,200 Guyanese businesses have been registered, and over US$2 billion in goods and services have been procured from Guyanese companies and nationals within the 40 sectors as prescribed in the LCA, the minister disclosed during the presentation of Budget 2026 on January 26.
He said this includes “US$175 million in construction, US$250 million in engineering and machining, US$387 million in manpower and crewing, and US$101 million in accommodation.”
Last year, the Local Content Secretariat facilitated the establishment of several local catering consortia to provide services to all three floating production, storage and offloading (FPSO) vessels operating offshore Guyana.
Dr. Singh said this “resulted in the procurement of goods and services valued at US$10.1 million”.
He added that the Secretariat also “facilitated the construction of a fabrication workshop at the Vreed-en-Hoop Shorebase, allowing local companies to manufacture critical components for the oil and gas industry, and developed a Local Content App for contractors and sub-contractors to publish procurement opportunities in the sector.”
In a bid to ensure that Guyanese continue to benefit from oil and gas activities in the Stabroek Block, the Secretariat is expanding the range of services covered under the Act.
Proposed amendments to the legislation are now awaiting policy-level consideration, following a stakeholder consultation process that included ExxonMobil Guyana and other major oil and gas contractors.
The compiled document has been submitted to Minister of Natural Resources Vickram Bharrat for onward review and consideration at Cabinet.
Cabinet review next step for Guyana’s expanded Local Content list covering 20+ new areas | OilNOW
