Govt. approves 13 more Local Content Annual Plans for 2023

May 30, 2023 News

Kaieteur News – The Ministry of Natural Resources on Monday announced that it has approved 13 additional Local Content Annual Plans for the reporting year, 2023.

Minister of Natural Resources, Vickram Bharrat, MP., hands over the signed Letter of Approval to SLB’s Managing Director, Ms Sharlene Seegoolam. The men are joined in the background by the Director of the Local Content Secretariat, Dr Martin Pertab and the ministry’s Legal Officer, Mr Michael Munroe.

Minister of Natural Resources, Vickram Bharrat, MP, hands over the signed Letter of Approval to Noble Drilling’s Local Content Manager , Mrs Renatha Khan – Bovell

These plans will ensure that the exploration and production activities undertaken by the companies will maximise local participation, promote economic diversification, and foster social development.

Minister of Natural Resources, Vickram Bharrat in the company of the Director of the Local Content Secretariat, Dr. Martin Pertab and the ministry’s Legal Officer, Mr. Michael Munroe, signed the companies’ Letters of Approval at the ministry’s Kingston office on May 24.

The approved companies were 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.

The Local Content Act states that contractors, sub-contractors and licensees operating in Guyana’s petroleum sector must submit a Local Content Annual Plan, outlining in detail their procurement, employment and capacity development plans for the reporting year. Just last week, the ministry green lit the annual plans of five oil majors operating in Guyana, including Stabroek Block operator, ExxonMobil Guyana.

As part of the signing, Minister Bharrat reminded that local content is of paramount importance to the government and people of Guyana. He said that it ensures the development of natural resources translates into tangible benefits for the people by generating employment opportunities, and fostering the growth of local businesses.

Commenting as well, SLB’s Managing Director, Sharlene Seegoolam stated, “At the heart of SLB’s values is the principle of recruiting locally. We take immense pride in hiring and collaborating with exceptional individuals from Guyana.”

Meanwhile, Noble Drilling’s Local Content Manager, Mrs. Renatha Khan – Bovell remarked, “This approval is a representation of our milestones/ commitment throughout the lifespan of our contract where we offer support to the economic development in the local communities.”

The Ministry of Natural Resources was keen to note that it remains committed to the effective implementation and monitoring of local content policies, ensuring transparency, accountability, and compliance. It also noted that the government will continue to work closely with the approved companies and all stakeholders to foster an enabling environment that empowers local businesses, develops local capacity, and promotes sustainable development in the natural resources sector.