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Local Content

Companies risk losing Local Content certification for not hiring, training Guyanese

The Ministry of Natural Resources has issued a stern reminder to Contractors, Subcontractors, and Licensees in the oil and gas sector about their obligations under the Local Content Act. Companies failing to prioritize hiring and training qualified Guyanese nationals...

Strict enforcement of local content law crucial for Guyana’s Success – Nestoil CEO

Chairman and Chief Executive Officer of Nestoil Group, Dr, Ernest Azudialu-Obiejesi, has urged the Guyanese government to learn from Nigeria's past mistakes in the oil and gas sector and strongly enforce its local content law.  His comments come as Guyana...

Private sector body urges swift payment reforms in Guyana’s oil and gas sector

The Private Sector Commission (PSC) has raised urgent concerns over payment delays from oil and gas companies, calling for reforms to ensure timely payments. In a meeting on June 14, 2024, with Minister of Natural Resources Vickram Bharrat and...

Guyana implements new policy, boosting advantage for locals in oil sector

Guyanese companies in the oil sector just got a major boost. A new policy now requires that companies evaluating bids give more weight to local content, increasing it from 5% to 10%. Companies with a Local Content Certificate will...

Stronger penalties for ‘fronting’, Jagdeo warns 

Vice President Bharrat Jagdeo has warned that the Guyanese government will be implementing stronger penalties for companies engaging in ‘fronting’ to circumvent the Local Content Act (LCA), which will be amended soon. ‘Fronting’ or ‘rent-a-citizen’ is a phenomenon that has...

Saipem, CNOOC to host meetings with Guyana suppliers

Saipem and CNOOC are set to hold separate meetings with Guyanese businesses in June.  Saipem’s meeting is an information session for businesses to understand their contractual obligations. It is scheduled for June 20, at 10:00 am. Registration is active, with...

Omni Helicopters selects first Guyanese pilots for Ab-Initio flight program

Omni Helicopters Guyana Initiative (OHGI), touted as Guyana’s leading air mobility solutions provider for the offshore sector, has selected its first two Guyanese citizens, Somant Heeralal and Yadram Ramcharran, to participate in its Ab-Initio flight program.  Announced in a June...

Exxon data reveals 80% average annual growth in spend on Guyanese suppliers for 2017-2023

ExxonMobil and its contractors grew their spend on Guyanese suppliers by an average of 80% annually, its 2023 Annual Report revealed. Spend grew from US$23 million in 2017 to US$641 million in 2023. Recent growth in spend picked up, particularly...

Exxon to meet with Guyana vendors 

ExxonMobil Guyana said it will host a June 19 virtual session for feedback on its Requests for Information (RFI) issued during July-December 2023.  The meeting will include an explanation of its RFI process, feedback on responses to the RFIs, and...

Local content regulator eyes doubling bid advantage for Guyanese companies

Guyana’s Local Content Secretariat is contemplating boosting the competitive advantage already afforded to Guyanese companies in oil sector procurement.  According to Director, Dr. Martin Pertab, the Secretariat plans to do this through procurement and bid evaluation guidelines issued to companies...

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As Venezuela election draws near, analyst says chances of Guyana invasion slim 

July 28 is the day millions of Venezuelans will decide who their next president will be.  Perhaps it will be...