Advisory panel on Local Content hands over report to Bharrat

The advisory panel, which was set up to conduct expansive consultation that will inform the country’s local content laws, has submitted its report with recommendations to Natural Resources Minister, Vickram Bharrat.

The panel members comprise Shyam Nokta (Chair), Carl Greenidge, Anthony Paul, Kevin Ramnarine, Carvil Duncan, and Floyd Haynes.

The committee, which was announced in August shortly after the People’s Progressive Party Civic (PPP/C) took office, was tasked with deriving measures to ensure that Guyanese benefits from the country’s oil and gas resources.

While the previous APNU+AFC government compiled a Local Content Policy, there has been no local content legislation as a result of the political impasse towards the end of that administration’s tenure.

ExxonMobil and its partners announced its 18^th oil find offshore on the Stabroek Block in September 2020. The latest find adds to the previously announced estimated recoverable resource of more than eight billion oil-equivalent barrels.

Guyana is expected to receive its third lift of one million barrels of oil in December which was delayed as a result of the COVID-19 pandemic.