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US company Harvey Gulf is aiming for 100% local content in Guyana

OilNOW -
Harvey Gulf International Marine, one of the top marine transportation companies globally, has identified Guyana as its latest investment destination. The US-based company specializes in providing Offshore Supply and Multi-Purpose Support Vessels for deepwater operations. A team from the company is...
News

Guyanese business group calls for swift implementation of local content framework

OilNOW -
The Private Sector Commission of Guyana (PSC) is calling for the swift implementation of a local content framework within which local businesses can operate and meaningfully benefit from opportunities in the emerging oil and gas industry. Speaking at the Liza...
Opinions

Structural approach to maximizing Local Content Development: national benefits for an emerging petroleum-producing country

Bobby Gossai, Jr. -
Initial efforts on local content have already contributed to the emerging oil sector transformation in Guyana. This can be seen from the first set of investment activities that are currently occurring with the establishment of new business frontiers, since...
Opinions

Value-addition and human capital creation for economic growth: key elements of Local Content Policies

Bobby Gossai, Jr. -
Local Content Policies (LPCs) are part of a broader category of policies known as Productive Development Policies (PDPs) or Industrial Policies (IPs), which, in the most expansive definition, include all government interventions, measures or programmes that aim to increase...
Opinions

Local Content Policy for Guyana: Maximizing Economic Benefits

Bobby Gossai, Jr. -
Increasing hydrocarbons finds offshore Guyana will offer significant opportunities to the country to fast track economic development and ensure that public welfare improvements are delivered to the citizens. One approach to doing so which should be adopted is to...
News

Local content framework in Guyana to be in place “long before first oil” – Dept. of Energy

OilNOW -
“We are confident that there will be a Local Content framework long before first oil.” This assurance was given by Director of the Department of Energy, Dr. Mark Bynoe as he addressed media operatives at his first press conference...
News

Brazil was forced to ease local content rules after oil output dropped significantly

OilNOW -
Under stringent local content requirements in the South American country of Brazil, oil production and the growth and development of the petroleum industry were significantly affected. The government was forced to take steps to loosen local content rules that...
News

Exxon local content centre produces first Guyanese ISO certified company

OilNOW -
Guysons Oil and Gas Services has set the pace for potential suppliers in Guyana’s petroleum sector by becoming the first local company in the emerging industry to meet the requirements for International Organization for Standardization (ISO) ISO 9001:2015. The announcement...
Exploration

Dept. of Energy likely to take lead on local content – Dr Bynoe

OilNOW -
Head of Guyana’s Department of Energy Dr Mark Bynoe says the Local Content Policy development which was some time ago transferred to the Ministry of Business from the Ministry of Natural Resources is likely to be handed over to...
News

Equatorial Guinea could end oil service contracts over failure to comply with local content rules

OilNOW -
Major oil companies in Equatorial Guinea could be asked by the end of September to cancel their contracts with service providers such as TechnipFMC, Schlumberger and Subsea 7 SA because they aren’t complying with local-content rules over training and...
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Latest News

NewsShikema Dey -

Kuwait, Qatar, other long-established producers now trail Guyana in per capita oil output

Countries with some of the world’s most mature petroleum industries now rank behind Guyana in per capita oil production,...

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