Local firms waiting to register for oil and gas contracts will soon be able to do so as Director of the Local Content Secretariat (LCS) Martin Pertab says that the agency’s online portal is 95% completed and will soon be launched.
As the industry continues to develop Pertab is urging locals to align and equip themselves to benefit from the emerging oil and gas sector as there will be increased demand for a wide range of products and services.
“The registration portal is yet to be launched. At this point, almost 95% of the work has been completed. The portal intends to be more user friendly, secure, and efficient… The portal has gone through several iterations of tests by independent users who have found it quite efficient and simple to navigate”, Pertab said in response to questions from the Stabroek News. There would also be an option for in-person registration where companies or individuals could visit the Secretariat and have their registration process done, Pertab said.
Underscoring that those services come with international industry standards and guidelines, Pertab advises persons wanting to tap into the emerging oil and gas sector to ensure they strive to improve the quality of their service so as to be competitive. Noting that the Local Content law prioritizes citizens getting contracts for jobs in a number of areas, local businesses must understand that, “The carved out areas in the First Schedule of the Act are investment opportunities that are basically ring-fenced for Guyanese. What that means is that preference must be conferred to our locals in the provision of these goods and services. However, critical to note is that the oil and gas industry brings with it international standards and best practices; that is, the way in which businesses are done is usually of high standards. Local suppliers are expected to comply and must constantly strive to improve their quality of services and boost their level of competitiveness,” he posited. Furthermore, like any new business venture, “They must do their due diligence on the market.”
And with many foreign companies seeking local partners, Pertab said that the onus is on locals to ensure that companies satisfy the definition of what a Guyanese company is in accordance with the Local Content Act, “Locals who are desirous of entering into a partnership with a foreign company must ensure that they satisfy the definition or criteria of a local company, as per the Local Content Act. Failure to do so would render them ineligible, and hence they could lose out on that preferential treatment set aside for locals,” Pertab noted. However, once satisfied, “local companies stand a great deal to benefit from partnering with foreign firms through, for instance, knowledge and technology transfer. “
Pertab said that the Local Content Secretariat is currently in the process of reviewing and analysing the submission of Local Content Annual Plans from the contractor, various sub-contractors, and licensees and once completed, information on upcoming investment opportunities such as procurement, employment, and capacity building will be made available to the public. “The exercise aims to inform our people of these opportunities and develop measures to ensure full participation. Once potential areas of investment are identified, efforts will be made to add these services to the First Schedule of the Act,” he said.
The Local Content Act sets out parameters for employment and states that a Local Content Secretariat will be established within the Ministry of Natural Resources; the law lists the Secretariat’s functions which include developing and maintaining measures for the effective implementation of local content by contractors, sub-contractors and licensees. The Secretariat is required to ensure development and implementation of strategies that give preferences to, or ensure equal treatment of Guyanese nationals and companies. The Secretariat will develop and maintain a local content register of qualified Guyanese nationals and companies and recommend for approval or refusal, master and annual plans submitted.
