More than 40 oil and gas contractors and subcontractors, including ExxonMobil Guyana Limited, MODEC Guyana Inc., CNOOC Petroleum Guyana Limited, Guyana Deep Water Operations Inc. and SLB, on Wednesday received approval for their 2026 annual local content plans, according to the Ministry of Natural Resources.
The approvals were formalised during a signing ceremony hosted by the ministry, which said the plans are a key mechanism through which companies outline how they intend to meet their obligations under the Local Content Act.
The ministry explained that annual local content plans require reporting contractors and subcontractors to set out their vision for local content development for each calendar year and demonstrate how they intend to comply with statutory requirements. The plans include narrative submissions supported by procurement, employment and capacity development sub-plans.
Under the Act, annual plans must be submitted to the minister responsible for natural resources within 30 days of the start of each calendar year. The Local Content Secretariat then reviews the submissions on the minister’s behalf to assess compliance with the provisions and objectives of the legislation.
According to the ministry, companies are given an opportunity to address observations raised by the secretariat and may be required to resubmit revised plans as part of an iterative review process before final approval is granted.
The ministry said approval of the plans signals the companies’ commitment to local content implementation while also reflecting government’s efforts to ensure Guyanese derive greater benefits from the country’s petroleum resources.
Addressing the ceremony, Minister of Natural Resources Vickram Bharrat commended staff of the ministry, including those attached to the Local Content and Petroleum departments, for their role in advancing the local content sector. He also thanked the participating companies for working with the ministry and government to support local content development.
The ministry noted that approved annual plans are intended to align with the objectives of the Local Content Act and will now move into the implementation phase. Progress will subsequently be monitored through half-yearly reports submitted by the companies.
It added that the approved plans are expected to create additional opportunities for Guyanese workers and businesses and contribute to increasing the amount of value retained within the country from petroleum sector activities.
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