The South American oil-producing nation of Guyana will host its third Local Content Summit on April 8, bringing together key stakeholders to enhance participation in the oil, gas, and non-oil sectors. The event is being organised by MBW Energy Support Services Inc. (MBWESSI) in collaboration with Prestige Management Consultants, and the Ministry of Natural Resources’ Local Content Secretariat.
The summit will be hosted at the Marriott Hotel in Georgetown, the organisers said in a statement seen by OilNOW, the official Media Partner for the event.
The conference will provide a deeper understanding of the local content legislation and policy updates, issues and advocacy, navigating joint ventures and consortia, and supply chain opportunities, among a host of related issues.
The Local Content Act was passed in Parliament in December 2021 with the intent of regulating the activities in the emerging oil and gas sector, in a manner that drives Guyana’s economic growth and development.
The country is also poised to set up a local content fund – as announced by Guyana’s President Irfaan Ali in 2023 – to help emerging businesses in the oil and gas sector.
In January, Finance Minister, Dr. Ashni Singh, announced that the Local Content Register now includes over 1,100 companies. In 2024, the Local Content Secretariat facilitated approximately US$743 million for services and employment from Guyanese businesses. Since the law was enacted in 2021, procurement from Guyanese companies has exceeded US$1.5 billion.
Just last month, the Local Content Secretariat launched its app at the SBM Offshore Guyana Let’s Talk Local Content Forum held at the Guyana Energy Conference and Supply Chain Expo.
The upcoming summit will provide further insights on investment opportunities, local and foreign partnerships, supply chain management, procurement, and market analysis. It will emphasize the benefits of local content certification and offer guidance for vendors on identifying and capitalizing on opportunities across all sectors.
Further information about the Summit agenda, speakers, registration and ticketing how to register can be found the event website www.localcontentsummitguyana.com.
