Though Guyana’s oil and gas sector is still in its in infancy stage, Minister of Natural Resources, Raphael Trotman warns that not everyone will be included in the sector, instead, Guyanese must pay attention to the extending benefits it will provide.
He was at the time responding to questions posed by People’s Progressive Party/Civic (PPP/C) Parliamentarian Odinga Lumumba on the ministry’s strategy to bridge the gap between the rich and poor, since he claimed that with adequate projection and planning, petroleum and gas have turned around the fortunes of many poor countries.
Trotman in his response highlighted the existence of a draft Local Content Policy, the index of which he said contained a list of services that will accompany the development of this sector. The policy, he said, was expected to be presented to Cabinet later this month, before being publicized before the end of December 2016, or January 2017.
He was quick to note, however, that the document will not be considered a pilot document as there are plans to have it made public so as to allow others to make their own contribution to the final document.
“I don’t think we have all the answers but together we can put something together that can benefit all of us,” Trotman said.
However, an unsatisfied Lumumba continued to question whether or not the draft document speaks to specific potential employment and business involvement on all levels or training for the wider population on their involvement in the oil and gas sector.
The minister, in his response, alluded to the oil industry of Trinidad and Tobago, where he said only 4% of the total population is actually involved. He also highlighted Uganda where he said out of the total population of 198 million, less than 4,000 persons were directly involved in the oil and gas industry.
Instead, citizens must consider the extrapolation of benefits that will accompany the development of the said industry, Trotman said.
“It is the extending benefits that we need to look at, not everyone will become a petroleum engineer or oil and gas expert. It is extrapolation of the benefits that spurs the growth,” he added.
Nonetheless he assured members of the National Assembly that regulations are being developed to ensure companies are compliant with their commitments to involve local partners as one means of promoting the involvement of village economies in the oil and gas sector.
