Dedication to Guyana’s economic growth emphasized as 13 more Local Content Annual Plans for 2023 approved

The Ministry of Natural Resources is delighted to declare the endorsement of 13 extra Local Content Annual Plans for the year 2023. These plans exemplify the steadfast dedication of both the government and industry participants in fostering the sustainable growth of Guyana's natural resources sector. The endorsed plans guarantee that the companies' exploration and production endeavors will prioritize local involvement, encourage economic variety, and support social progress. Minister of Natural Resources, Hon. Vickram Bharrat M.P., alongside the Director of the Local Content Secretariat, Dr. Martin Pertab, and the ministry's Legal Officer, Mr. Michael Munroe, signed the Letters of Approval for the companies at the ministry's Kingston office on May 24, 2023. Thirteen companies have received approval for their Local Content Annual Plans, as mandated by the Local Content Act. These plans outline the procurement, employment, and capacity development strategies of contractors, sub-contractors, and licensees operating in Guyana's petroleum sector. Among the approved companies are Bourbon Guyana Incorporated, CNOOC Petroleum Guyana Limited, Guyana Deepwater Operations (SBM Offshore), Guyana Shore Base Incorporated, Noble Drilling Guyana Incorporated, SLB Guyana, Stena Carron Drilling Limited, Tenaris Guyana Incorporated, Tullow Guyana B.V., Weatherford Trinidad Limited (Guyana), Tiger Rental, Sustainable Energy Solutions, and OEG Energy Inc. Notably, the Ministry of Natural Resources recently granted approval to the annual plans of five prominent oil majors operating in Guyana, including ExxonMobil Guyana, the operator of the Stabroek Block. During the signing ceremony, Minister Bharrat emphasized the significance of local content to the government and people of Guyana. He highlighted how it ensures that the country's natural resource development leads to tangible benefits, such as job opportunities and the growth of local businesses. Ms. Sharlene Seegoolam, the Managing Director of SLB, also expressed their commitment to recruiting and collaborating with exceptional individuals from Guyana, aligning with SLB's core values. Mrs. Renatha Khan-Bovell, Noble Drilling's Local Content Manager, expressed her satisfaction with the approval, stating that it signifies their dedication and achievements in supporting economic development within local communities throughout the contract's lifespan. The Ministry of Natural Resources maintains its unwavering commitment to implementing and monitoring local content policies effectively, with a focus on transparency, accountability, and adherence to regulations.

Source(Department of Public Information, 2022, Image: Department of Public Information )

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29 May 2023 17:30 | by anaraine

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