spot_img

Local Content

News

Regulator approves MODEC’s plan for local content in Guyana through 2028

OilNOW -
Guyanese regulators have approved MODEC’s Local Content Master Plan 2024-2028.  The plan outlines MODEC's push to integrate Guyanese companies and nationals into its operations for a five-year period. Procurement opportunities for Guyanese companies are already being unveiled, with about 32 announced...
News

Local Content Law not meant to protect poor services – Min. Bharrat to Guyanese businesses

OilNOW -
Minister of Natural Resources, Vickram Bharrat, emphasized that Guyana's local content legislation is not a shield for substandard services. Speaking at the Local Content Forum, Bharrat urged the private sector to focus on maintaining high standards. “The local content legislation...
News

Stena Drilling to host Guyana Vendor Day, engage local businesses

OilNOW -
Stena Drilling will host its Guyana Vendor Day on November 13, 2024, at the Centre for Local Business Development Inc. (CLBD) in Georgetown.  The event aims to connect local businesses with Stena’s procurement team, offering insights into...
News

Saipem seeks catering services for VEHSI facility

OilNOW -
Italian engineering and drilling firm Saipem is seeking Expressions of Interest (EOIs) for catering services at its Vreed-en-Hoop Shore Base Inc. (VEHSI) facility. Saipem's operation at VEHSI spans 81,000 square meters.  VEHSI is a collaboration between NRG Holdings, a 100%...
News

2,000 direct jobs to be created in Suriname as TotalEnergies set to spend US$1.5 billion in-country

OilNOW -
TotalEnergies' Gran Morgu project is set to create thousands of jobs, including 2,000 direct jobs over its lifetime. Meanwhile, the Total-led group plans to spend US$1-1.5 billion in Suriname as part of its development program for the Gran Morgu...
News

Procurement spending from contractors hits US$314 million with addition of Prosperity FPSO – Mid Year Report 

OilNOW -
According to Guyana’s 2024 mid-year report, procurement spending in the oil and gas sector totaled US$314 million. The report highlights growth in engineering and machining services, accommodation, equipment rental, and catering. The hike is largely attributed to the increased activity...
News

US$8.9 million pumped into training initiatives for Guyana’s oil sector 

OilNOW -
Training initiatives for Guyana’s oil and gas sector have seen an investment of US$8.6 million, according to the recently released Mid-Year Report from the Ministry of Finance.  Labor scarcity in Guyana’s market is a known issue, especially in the oil...
News

Unmet expectations about jobs could impact support for Suriname’s first deepwater development – ESIA

OilNOW -
With TotalEnergies starting the groundwork for Suriname’s first offshore oil development, the company in its environmental and social impact assessment (ESIA) underscored the importance of the country being realistic with its local content targets.  “Unmet expectations about employment opportunities may...
News

MODEC to open 32 procurement opportunities for Guyanese firms over next 5 months

OilNOW -
MODEC Guyana is set to open a series of procurement opportunities as it works to deliver a floating production, storage and offloading (FPSO) vessel for operation offshore Guyana. The Local Content Secretariat revealed a list of 32 opportunities that form...
News

Staatsolie boss in favour of local content policy instead of law    

Shikema Dey -
Paramaribo, Suriname - As plans continue to move forward for Suriname’s first offshore oil production project, Managing Director of state oil company Staatsolie, Annand Jagesar, believes the country would do well with a local content policy instead of a...
123...24Page 2 of 24

Latest News

NewsOilNOW -

BOMESC secures contract for Suriname’s first deepwater FPSO topside modules

BOMESC Offshore Engineering Company Limited has signed a contract with STS VOF to construct topside modules for Suriname’s first...

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.

Quick Access

Company Info

Social Networks