Intense engagements with oil and gas companies in Guyana and other stakeholders in recent weeks have seen feedback on specific areas of enhance business development being received by the Ministry of Natural Resources.
“The consultations are evolving with both stakeholders from the industry and government agencies on the growth of the industry,” Bobby Gossai Jr., Coordinator of the ongoing Strategic Stakeholder Consultations, told OilNOW in a comment last week.
The Ministry of Natural Resources has held consultations with other government agencies, private sector groups, and companies operating in the industry, including operator of the prolific Stabroek Block, ExxonMobil.
“All feedback have been on some specific areas of enhance business development for both the oil and gas sectors and related manufacturing and industrial development for the economy,” Gossai Jr. said.
The first round of consultations on Guyana’s revised draft Local Content Policy was launched on February 15 by President Irfaan Ali. The Head of State, who led the discussions at the Arthur Chung Conference Centre on the outskirts of Georgetown, asserted that the essential hallmarks of the policy must be accountability, realistic targets, opportunities for capacity building and incentives that allow Guyanese to benefit the most from their oil wealth.
Companies in the oil and gas industry have voiced support for the establishment of a local content framework while calling for authorities to ensure that targets being proposed are realistic in the context of Guyana’s evolving capacity.