The oil and gas industry has been a driving force in the global economy for many years, and Guyana is quickly emerging as a key player in this field. To discuss the many opportunities and benefits that come with this growing industry, MBW Support Services Inc hosted a one-day Local Content Summit at the Pegasus Suites and Corporate Centre in Georgetown on Tuesday.
The summit, hosted under the theme, “Sustaining Supplier Development through Local Content Partnerships,” aimed to emphasize the importance of the development and structure of Guyana’s Local Content Policy and Local Content Certification, benefits for Guyanese, and the creation of partnerships to boost the economic development of the country’s oil and gas sector. It brought together key stakeholders from the industry, including government officials, industry experts, and local business leaders. However, one of the key highlights of the summit was the keynote address delivered by Vice President of Guyana, Dr. Bharrat Jagdeo.
During his address, Dr. Jagdeo emphasized the importance of local content in the oil and gas industry and how it can be used to promote economic development and improve the lives of Guyanese. He also spoke about the government’s commitment to developing a strong local content policy and creating an environment that is conducive to the growth and development of the industry. He noted that the government does not usually favor summits; however, it thought it best to support this one since it allowed the government to bring great value to the discussions.
Dr. Jagdeo also noted that the summit could kickstart the review of Guyana’s Local Content Act, as the government already has plans to amend the legislation as promised, which would secure further benefits for Guyanese. Minister of Natural Resources, Vickram Bharrat, was also present and gave an update on the country’s local content legislation, highlighting the progress that has been made so far and the plans for the future. Key officials from the Local Content Secretariat, such as its Director, Dr. Martin Pertab, and Bobby Gossai, the ministry’s Senior Petroleum Coordinator, were also in attendance to share useful insights and answer questions from attendees.
The summit was not only an opportunity to discuss the importance of local content in the oil and gas industry but also to create partnerships and build networks that will help to sustain the growth and development of the sector.
Attendees had the chance to network and collaborate with other industry players, including representatives from local businesses, international companies, and government agencies.
