With first oil months away, government has assured that its “fit for purpose” local content policy will be completed before then and has promised “considerable focus” on capacity development.
“The primary goal of this policy is to facilitate the active participation and development of Guyanese labour and suppliers in the petroleum sector and to give rise to benefits from expenditure in the sector on labour, goods and services for Guyanese industry, the economy and wider society,” states the 36-page document, circulated to the private sector and other stakeholders.
“In an effort to maximise benefits and retain long-term value from Guyana’s petroleum resources, considerable focus shall be given towards local capacity development in addition to local participation, such that our Local Content policy does not drive additional costs into the petroleum sector but instead strengthens our competitiveness,” it adds.
