Guyana’s Second annual Local Content Summit for the oil and gas industry conference addressing critical issues central to the Guyanese citizenry, concluded yesterday, at the prestigious Pegasus Suites and Corporate Centre on Seawall Road, Georgetown, Guyana, where industry leaders gathered to address critical issues pertinent to the industry.
Designed to foster knowledge-sharing among individuals and local businesses eager to engage in the energy sector, this second iteration of the summit brought together a distinguished assembly of Guyanese and international oil and gas industry leaders, public officials, and experts. This year’s summit focued on the theme “Creating Value. Driving Economic Expansion” underscores its commitment to advancing Guyana’s energy industries.
The activity was hosted by MBW Energy Support Services Inc. (MBWESSI) and Prestige Management Consultants (PMC), in partnership with the Local Content Secretariat through the Ministry of Natural Resources, the 2024 Local Content Summit received support from public and private partners, including Sispro Inc., ExxonMobil, Nobel Corporation, International SOS, GAICO, SBM Offshore, Action Invest and Gboats Inc.
The summit’s agenda featured a dynamic mix of panel discussions, presentations, and testimonials, inaugurated by a plenary session. The session commenced with welcoming remarks from the summit’s hosts, Abbigale Loncke-Watson, Founder and President of MBW Energy Support Services Inc. (MBWESSI), and Anita Ramprasad, CEO of Prestige Management Consultants and Chair of the event.
The highlight of the opening session was the keynote address delivered by Head of State, President , Irfaan Ali, who in his presentation sought to emphasize the significance of local content, stating, “Local content is to build local capacity to compete anywhere else in the world, and to position our local companies to be number one companies in the region.
That should be the goal.” He continued, “Our local content enables us to build capacity, scale, model, and create value-added opportunities.” President Ali further remarked, “Guyana is our brand. The future is ours; you decide how to shape it.” Reflecting on the event’s theme, Abbigale Loncke-Watson shared, “The theme encapsulates our shared objective: harnessing local content to cultivate lasting value for our nation and propel sustainable economic growth.
Local content transcends mere rhetoric; it serves as the cornerstone upon which we can construct a resilient, diversified economy that benefits all Guyanese.” She expressed confidence in the transformative potential of local content initiatives, stating that discussions would not solely focus on financial gains but also on how they contribute to community betterment and the well-being of Guyana’s people. Loncke-Watson also expressed gratitude for the tireless efforts of the MBW/PMC/The NICO Consulting, Inc. team in orchestrating this summit. Anita Ramprasad, CEO of Prestige Management Consultants and Chair of the event, emphasized the importance of engaging in substantive discussions on local content. She stated that expanding understanding and commitment to local content requires real dialogue.
The summit, according to organisezs serves as a platform for such discussions, where stakeholders can come together to explore opportunities, address challenges, and chart a course towards maximizing the benefits of Guyana’s national resources for all Guyanese. The summit’s panels delved into crucial topics such as the Role of Local Content in the Supply & Value Chain, Regulatory & Legislative Updates, and the exploration of Joint Ventures (JV).
Additionally, local leaders, including Anil Nandlall SC MP, Attorney General & Minister of Legal Affairs, Deodat Indar, Minister within the Ministry of Public Works, Sharlene Seegoolam, Country Manager, SLB, Dr. Martin Pertab, Director of the Local Content Secretariat, Grace Hutson, Account Manager at Halliburton, Sanjeev Datadin, Attorney at Law and Member of Parliament, and Komal Singh, Chairman of the Private Sector Commission shared their experiences in the industry.
Actual experiences of local companies were shared through testimonials, showcasing opportunities for all Guyanese interested in engaging in the sector. Leading local and international companies, including Baker Hughes, PAS Cargo Guyana Inc., Midway Speciality Care Centre, Century Tamara Logistic Services, Metro, Community Health Care and Castle Security Services, participated in the vibrant exhibition forum alongside associations such as Georgetown Chambers Of Commerce and Industry, Women in Energy and the Centre for Local Business Development. Guyana’s Local Content Legislation, enacted in Parliament in December 2021, regulates activities in the emerging oil and gas sector to drive economic growth and development. The legislation aims to create more business opportunities, develop a skilled workforce, and foster strategic partnerships with international companies to enable active participation within the sector.
