Over 40 Local Content annual plans approved

Local Content annual plans for more than 40 companies across Guyana's oil and gas sector were approved and signed on Wednesday, tying companies to key deliverables meant to guarantee that Guyanese workers and services are supported.

A signing ceremony was held at Duke Lodge in Kingston, attended by representatives of Guyana's Ministry of Natural Resources, the Local Content Secretariat, and the companies that submitted their plans for 2026.

Under Guyana's Local Content Act 2021, these annual plans must detail how companies intend to deliver on local content commitments throughout the year — including how many Guyanese they plan to employ and in what roles, what goods and services will be sourced from Guyanese companies, and the estimated value of local content to be delivered.

"The annual plan, in my view, is the bedrock of local content implementation. It's the basis for local content implementation and activities," said Michael Munroe, Director of the Local Content Secretariat. He added that the Secretariat will continuously engage companies to ensure effective implementation.

Minister of Natural Resources Vickram Bharrat also hailed the approvals, noting that Guyana's proficiency in the oil sector has consistently improved over recent years.

Each annual plan must be submitted no later than thirty days after the start of a calendar year. The Local Content Secretariat reviews submissions rigorously to ensure compliance with the letter and spirit of the law, and companies have the opportunity to respond to observations and resubmit through an iterative, collaborative review process.

In a statement, the Ministry of Natural Resources said approving the annual plans "reinforces reporting companies' commitment to local content implementation and underscores the Government's commitment to ensuring Guyanese are meaningful participants in Guyana's patrimony."

At Wednesday’s event, plans for several companies, including ExxonMobil Guyana Ltd., MODEC Guyana Inc., CNOOC Petroleum Guyana Ltd., and SLB were approved. 

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