In an effort to ensure there is a level playing field for all companies participating in the trillion-dollar oil sector, Guyana’s Local Content Bill 2021, proposes several mechanisms to banish opportunities for favouritism and the creation of monopolies. This...
By Dr. Lorraine Sobers
Guyana’s oil production is set to ramp up rapidly in the next 5 years, but this is just the beginning. By early 2022, production will reach 340,000 barrels of oil per day (bopd) with the arrival...
Senior Petroleum Coordinator at Guyana’s Ministry of Natural Resources, Bobby Gossai Jr., says the Local Content Bill 2021 laid in Parliament last week is a dynamic document that will be continuously updated as the oil and gas industry evolves in...
The Georgetown Chamber of Commerce and Industry (GCCI) and the Guyana Oil and Gas Energy Chamber (GOGEC) have welcomed Guyana’s hallmark Local Content Bill which was tabled in the National Assembly on Thursday.
The GCCI, in a statement, reinforced that...
Guyana’s historic Local Content Bill 2021 has outlined several penalties for persons who are found to be in breach of its provisions. The Bill notes that a person who carries out petroleum operations without the minimum local content requirement...
The Government of Guyana is proposing to have local companies and citizens participate in no less than 40 critical areas in the oil sector as opposed to the previously recommended 153 categories.
In the Local Content Bill 2021 that was...
Guyana’s Local Content Bill 2021 which was tabled in the National Assembly on Thursday has offered several protective measures that close the door to imposters or schemers seeking to amass fast wealth in the sector. One of those measures...
Due to the billions of dollars at stake in the procurement of oil and gas contracts, the PPP/C Government is proposing to have a Local Content Register of qualified nationals and companies so as to keep schemers of the...
Guyana’s Finance Minister Dr. Ashni Singh said the government’s new local content bill, scheduled to be tabled in the national assembly today, makes provisions for the establishment of a local content secretariat, which will be responsible for managing compliance...
