Oct 01, 2022 News
OIL SERIES PART 8…
– must also facilitate alliances with appropriate partners
By Kiana Wilburg
Kaieteur News – Guyana’s Local Content Secretariat has laid out strict requirements which oil companies must now follow when procuring goods and services for their operations.
According to the Secretariat’s guidelines, companies are required to produce among other documents, an Annual Local Content Plan which outlines their procurement plan with the following details:
Oil companies are also required to provide a description of the parameters and criteria to be utilised to measure and compare the capabilities, qualification, and certification of the skills, goods, and services of a national or company (Guyanese or otherwise). These parameters and criteria shall include information on whether there is distinction of measurements by nationality, scope/type of the good or service provided, sector, size, etc.
The Secretariat also demands to see programmes for facilitating the formation of partnerships, joint ventures or other alliances. In this regard, companies must provide a detailed annual course of action to be implemented to ensure alliances between locals and foreigners for the transfer of knowledge and to promote capacity building.
Guyana’s Local Content Act prioritises the use of Guyanese nationals and companies in the procurement of goods and services for the enhancement of the value chain of the oil sector.
The Act also serves to enable local capacity development and provide for the investigation, supervision, coordination, monitoring and evaluation of, and participation in, local content in Guyana.
The Local Content Secretariat is mandated to ensure that the provisions of the Act are implemented and functions as the regulatory arm for the monitoring, evaluation, coordination and reporting of local content in the petroleum operations of Guyana.
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