Local Content Act.

This Local Content is enacted to provide for the implementation of local content obligations on persons engaged in petroleum operations or related activities in the petroleum sector; to prioritise Guyanese nationals and Guyanese companies in the procurement of goods and services for the enhancement of the value chain of the petroleum sector; to enable local capacity development; to provide for the investigation, supervision, co-ordination, monitoring and evaluation of, and participation in, local content in Guyana; to promote competitiveness and encourage the creation of related industries that will sustain the social and economic development of Guyana.
Local content means the monetary value of inputs from the supply of goods, or the provision of services, by Guyanese nationals or Guyanese companies and includes local capacity development.
There is established a unit, within the Ministry responsible for petroleum, to be known as the Local Content Secretariat. The functions of the Secretariat shall include: (a) developing and maintaining measures for the effective implementation of local content by Contractors, Sub-Contractors and Licensees; (b) developing and implementing strategies that will give preference to, or ensure equal treatment of, Guyanese nationals and Guyanese companies; (c) conducting market analysis; (d) making recommendations to the Minister; ( e) developing formats for local content plans and reporting; etc. The Secretariat shall develop and maintain Local Content Registers of: (a) Guyanese nationals for employment; and (b) Guyanese nationals and Guyanese companies from which goods and services may be procured. The Secretariat shall monitor and evaluate the petroleum operations of a Contractor, Sub-Contractor or Licensee, for the purpose of carrying out the provisions of this Act.