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CNOOC, Tullow, SBM Offshore among 13 more with approved Local Content Plans

OilNOW -
Guyana's Ministry of Natural Resources announced on May 29 the approval of thirteen additional Local Content Annual Plans for the reporting year 2023. Approved plans detail the utilisation of Guyanese goods and services for the year in question. Vickram Bharrat,...
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Guyana certifies major oil companies local content compliant after successful 2022

OilNOW -
TechnipFMC, Halliburton, Baker Hughes, Saipem, and ExxonMobil have received approvals for their 2023 Local Content Annual Plans.  The event, held May 15, saw the presence of the Minister of Natural Resources, Vickram Bharrat, along with key representatives from the aforementioned...
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Some Guyanese complaining about denied opportunities, despite local content law – Official

OilNOW -
Guyana's Attorney General, Anil Nandlall, recently announced the initiation of a comprehensive review of the local content framework. This move comes, he said, amid complaints that some locals are still being disenfranchised. The AG made the disclosure on his show...
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Local Content Secretariat pushing technical capacity building

OilNOW -
The Local Content Secretariat (LCS) is coordinating a paid internship pilot program with the Guyana Technical Institute (GTI) to align students in technical fields with sub-contractors along the supply chain to build on skills and experience in the country’s...
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Local Content proving itself as tool to combat Dutch Disease in Guyana

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Local Content accounted for 5% of Guyana's economy in 2022, marking a milestone for the country's efforts towards economic diversification and combatting the dreaded Dutch Disease. The Local Content Act of Guyana, which mandates the procurement of goods and...
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Everyone, but the banks, is betting on you – Tucker tells Guyana Local Content Summit

OilNOW -
Immediate past President of a key business group in Guyana - the Georgetown Chamber of Commerce and Industry - Timothy Tucker, says everyone, except the commercial banks, is betting on the new oil producing South American country. This is...
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‘We are here to listen’ – Jagdeo to Guyana’s inaugural Local Content Summit

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"We are here to listen," Vice President Dr. Bharrat Jagdeo said as keynote speaker for the opening of Guyana's first ever Local Content Summit, Tuesday at the Pegasus Corporate Centre. The summit comes as the government is gearing up to...
News

Kester Hutson elected new GCCI President, says Local Content push remains high on agenda 

OilNOW -
A key Guyana business group, the Georgetown Chamber of Commerce and Industry (GCCI), has elected businessman Kester Hutson as its new President, ending the two-term presidency of Timothy Tucker.  Fresh off his election, Hutson in a comment to...
News

Update to Local Content Act could bring in US$350 million more annually – Dr. Pertab

OilNOW -
Director of Guyana’s Local Content Secretariat, Dr. Martin Pertab, said that a new update to the Local Content Act’s first schedule could bring in US$300-350 million annually. Presently, 40 categories are subject to a legal mandate for contractors to utilise...
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Over 25 new services identified by private sector for update of Guyana’s local content law

OilNOW -
Guyana's Private Sector Commission (PSC) has identified 25 additional categories that could be included in the country's Local Content Act, said President of the Georgetown Chamber of Commerce and Industry, Timothy Tucker. He told OilNOW in an exclusive interview...
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Decision reached in arbitration over Hess’ stake in Guyana’s Stabroek Block

A decision has been reached in the high-stakes arbitration between ExxonMobil and Hess Corporation over a prized oil asset...

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