Draft Local Content Bill calls for near takeover of oil

  • Published on: Nov 23, 2021 - 1:54 PM
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Draft Local Content Bill calls for near takeover of oil The Government will soon lay its Local Content Bill in the National Assembly, which could see Guyana setting strong targets for companies operating in the industry. The Bill’s first schedule would mandate a near takeover of oil operations by local goods and services in just 10 years. Though local penetration of the industry at present is not significant, the schedule seeks to mandate a gradual increase in the use of local goods and services, based on the Government’s assessment of the ability of locals to provide. President Dr. Mohamed Irfaan Ali has said that the legislation will be intro …
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