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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...
News

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...
News

Major local content summit confirmed for April in Guyana

OilNOW -
MBW Energy Support Services Inc. (MBWESSI) announced over the weekend Guyana’s first Local Content Summit, to be held on April 4, 2023, hosted in partnership with the Local Content Secretariat through the Ministry of Natural Resources. Held under the...
News

750 Local Content certificates targeted for 2023 – Pertab

OilNOW -
Within a year of existence, Guyana’s Local Content Secretariat (LCS) had made tremendous strides, and in 2023, it aims to continue along that path. Head of the Secretariat, Dr. Martin Pertab disclosed that it has targeted the approval of...
News

Local Content law was never designed to hinder investment – Guyana Minister 

OilNOW -
Guyana is abuzz with economic activity; a direct result of the massive oil and gas finds in the ExxonMobil-operated Stabroek Block, and this has led to increased interest from investors across the globe looking to cash in on the...
News

NetBenefit Software looking to extend local content tracking success to Guyana

OilNOW -
Guyana passed Local Content legislation a little over a year ago to ensure that its citizens get the most out of the petroleum resource – a whopping 11 billion barrels discovered in the Stabroek Block and counting. Now, NetBenefit Software...
News

Unrealistic local content standards for jobs is counterproductive – Professor Haar

OilNOW -
International Business Professor, Jerry Haar believes that having unattainable standards in Guyana’s Local Content Policy would be counterproductive.  Professor Haar alluded that the targets for the hiring of skilled Guyanese are unrealistic and should be revised if the country wants...
Opinions

The Paradox of Plenty: Reflections on Implementing Guyana’s Local Content Laws

OilNOW -
By Vivian M. Williams, Esq. and Dr. Terrence Blackman - OilNOW In October 2022, the Guyana Business Journal (GBJ) challenged a panel in Episode V of its Webinar series Transforming Guyana to deliberate on How Guyana could maximise local capture...
News

Advancing development of local content at forefront of SBM Offshore’s milestones in 2022

OilNOW -
SBM Offshore said it had another successful year in Guyana in 2022. In a video published on its Facebook page, the company said it achieved major milestones including the start-up of the Liza Unity floating production storage and offloading...
News

Great opportunity for local content when new offshore blocks are awarded – business group

OilNOW -
The Guyana Manufacturing and Services Association (GMSA) is optimistic about the government’s recent announcement of a bid round for 14 blocks offshore Guyana. GMSA is the main advocacy body for local manufacturers and companies of related services and operates as a...
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Latest News

NewsShikema Dey -

Chevron’s entry strengthens Guyana oil sector despite Venezuela ties – Rystad Energy  

Chevron’s entry into Guyana’s Stabroek Block will not disrupt ongoing operations, according to Schreiner Parker, Partner and Head of...

OilNOW is a Resource Center founded and owned by Guyanese. OilNOW is an apolitical, non-partisan, privately owned agency that strives to ensure the highest degree of accuracy and balance.

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