Guyana’s Local Content Law will soon be updated to account for the expansion of various skills and services in the hydrocarbon sector. This is according to Attorney General Anil Nandlall during this week’s “Issues In the News” programme.
Nandlall noted that the Local Content Act has been in existence for more than a year. He noted that in his view, the enacting of the legislation was a good initial effort and is also the first piece of legislation of its type in the entire English-speaking Caribbean.
“And it’s the first legislation of its type. We said that it would be subject to review as we gain more experience in the sector. And we will also supplement the law with regulations made by the Minister of Natural Resources, Vickram Bharrat,” he said.
According to the AG, the modification to the act will include provisions for training and capacity building for local workers. In addition, requirements for the use of local content in the supply chain, will also serve part of the modification process.
“I think after we have acquired under our belt, two years of experience as an oil and gas producer, operator, and exporter, and I believe now…we are at a particular vantage point that we can now reveal our experience and start to work on modernizing (the law),” the AG said.
He continued, “It’s about making adjustments to the Local Content Law and bringing in additional regulations that will strengthen the legislation to enable the government to achieve the core objective which is to protect Guyanese and Guyanese companies in the oil and gas sector.”
Minister Nandlall said that the administration will continue to review the progress of the legislation and ensure that beneficial aspects of the Act are inserted in the law. He noted too that Guyana will need to develop its workforce and infrastructure to meet the growing demands of the industry.
