Minister of Natural Resources Vickram Bharrat on Wednesday approved the Local Content Master Plans of 11 companies providing services to Guyana’s petroleum sector.
In a statement, the Ministry of Natural Resources said the the companies whose plans were approved were Cataleya Energy Limited; Guyana Shore Base Incorporated (GYSBI); Inter-national SOS Incorporated; Leader Engineering Guyana Incorporated; Stena Drilling; Sustainable Environmental Solutions; Tenaris Guyana; G-Boats; Weatherford; TechnipFMC; and Seacor Marine LLC.
It explained that the five-year master plan is intended to provide the minister and the secretariat with an understanding of the contractor’s, sub-contractor’s or licensee’s projected activities with regards to employment, procurement and capacity development of suppliers. The master plans, which also include an amendment which would see that Guyanese suppliers of the nation’s petroleum sector are paid within thirty (30) to forty-five (45) days upon receipt of the correct invoice, are also enforceable as per the Local Content Act.
The signing took place at the office of the minister on Duke Street, Georgetown, where Bharrat reaffirmed the significance of contractors, sub-contractors and licensees implementing their master plan as well as the amendment for a reduced payment period. Bharrat, who was accompanied by Director of the Local Content Secretariat Martin Pertab and the Ministry’s s Legal Officer Michael Monroe, was keen to recall that the amendment buttresses the growth and competitive financing of Guyanese businesses through suitable contract and payment terms. This, he reminded, is wholly in keeping with the provisions of Guyana’s Local Content Act.
“TechnipFMC is honoured to receive the formal approval of our Local Content Master Plan from the Ministry of Natural Resources. This important milestone is a recognition of our commitment to local content. We remain focused on building the expertise in-country that will be required in the future to deliver world class projects. We are very excited to be a witness of Guyana’s successes, and are privileged to have a part in it,” Area Director at TechnipFMC Nicolas Sicard was quoted as saying in the release after the signing.
GYSBI’s Deputy General Manager Rabin Chandarpal added that since its inception in 2017, GYSBI has remained focused on the development of local content and creating beneficial opportunities for Guyanese workers and vendors within the oil and gas sector. GYSBI – the nation’s largest shore base – has more than 600 Guyanese currently employed in its operations, a large number of which are women.
“Eighty-five per cent of our supply chain, with the exception of specialised goods and services such as the purchase of cranes, go to Guyanese vendors.
“We want to see value generated from Guyana’s offshore resources remaining in the domestic economy and being used to develop the lives of Guyanese. GYSBI has been and will always remain committed to identifying, promoting and maximising the capacity of Guyanese nationals and companies throughout all facets of our operations,” he said.
Meanwhile, the Director of Tenaris Guyana Federico Gimenez reasserted his company’s commitment to maintaining and promoting the spirit of the local content legislation.
“We are honoured to contribute to Guyana government’s local content initiative, a major opportunity to share our knowledge through different programs and training and, to enhance the capacity of Guyana’s talent in the oil and gas sector. Our commitment is to grow with the communities where we operate, and today this commitment is strengthened in Guyana,” Gimenez said.
The approval of the plans of the 11 companies comes on the heels of the approval of the master plans of Bourbon Guyana Inc; CNOOC Petroleum Guyana Ltd.; Expro Guyana Inc; Gulf Valve; Noble Drilling Guyana Inc.; Schlumberger; Tiger Rentals Guyana Inc; Tullow Guyana BV; CGX; SBM Offshore; and Halliburton Guyana.
