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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

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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...
News

Local Content Advisory Committee pending opposition nominee – Bharrat

OilNOW -
Natural Resources Minister, Vickram Bharrat, has informed the National Assembly that the government is awaiting a nominee from the political opposition to move ahead with the establishment of a Local Content Advisory Committee. His comment was a direct response to a...
News

Guyana private sector calls for expansion of categories ring-fenced under local content law

OilNOW -
The Private Sector Commission (PSC) on Thursday hosted a forum to solicit feedback from its members on the strengths and weaknesses of the Local Act of Guyana, which is poised for its first periodic review. The event was held at...
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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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