“If you not in the business, get in the business” was the advice of Government Minister, Deodat Indar to the 360-member strong Guyana Manufacturing and Services Association (GMSA) as it celebrated 60 years of existence on August 3.
His feature address focused on transformative projects in Guyana, a big element of which, is its oil and gas success.
Indar, a champion of local content told a crowd gathered at the Princess Hotel that opportunities are “never-ending in Guyana’s oil sector” with a place for everyone who wishes to benefit from its success.
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“We as Guyanese need to benefit from our resources. There is so much to tap into,” he said. “Why can’t we have a pipe coating facility here in Guyana? Why can’t we calibrate the pipe fittings on the production vessels? These are all opportunities we can go after,” he pointed out.
Guyana has been an oil producer for a little under four years with two floating production, storage and offloading (FPSO) vessels in operation in the offshore Stabroek Block and another being installed.
“And look at the activity and attention we are getting from just those two. Imagine what will happen if we have 10,” he added.
Since its first discovery in 2015, Guyana has amassed a resource count of 11 billion barrels in its Stabroek Block. And the country’s Local Content Act is paving the way for Guyanese to benefit from the growing opportunities in the South American country.
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It comprises 40 categories that are subject to a legal mandate for contractors to utilise Guyanese goods and services at or above various targets. And the government is looking at adding several new areas, with the current target being 20 or so, to bring in additional revenues.
