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Govt hints at outlawing bundling of oil sector contracts if consultations fail

Last Updated on Wednesday, 17 August 2022, 22:45 by Denis Chabrol

The meeting held in the Boardroom of the Natural Resources Ministry was attended by Chairman of PSC, Mr. Paul Cheong; Chairman of PSC’s Local Content Advisory Group (LCAG), Mr. Shyam Nokta; LCAG Member, Mr. Joel Bhagwandin; Executive Director of the
Georgetown Chamber of Commerce and Industry (GCCI), Mr. Richard Rambarran and Executive Director of the PSC, Mr. Ian Chung. The Ministry’s team included Director of Local Content Secretariat, Mr. Martin Pertab, Senior Petroleum Coordinator, Mr. Bobby Gossai, Head
of Compliance, Mr. Mark December and Legal Officer, Mr. Michael Munroe.

Minister of Natural Resources Vickram Bharrat on Wednesday hinted that government would make the bundling of oil and gas sector contracts by oil companies and their sub-contractors illegal in order to give Guyanese companies a fair opportunity to benefit from the rapidly emerging industry here.

“We are looking at all possible areas to strengthen. However, consultations will be held before that is done,”  he told Demerara Waves Online News when asked whether government planned to amend the Local Content legislation to provide for the unbundling of contracts.

Mr Bharrat made known his position after the Private Sector Commission and the Ministry of Natural Resources met and   called for an end to the bundling 0f contracts. “Both sides agreed to continue pushing for the unbundling of contracts,” the two sides said in a joint statement.

The PSC and the Natural Resources Ministry also said Minister Bharrat invited the PSC to be part of an ongoing process that the Ministry is leading to “examine the current schedule in the Local Content legislation and propose changes that can be examined.”

A one-day forum on Local Content issues, according to the two sides, would be held in September to discuss local content issues and they would collaborate on conducting outreaches across the country  aimed at sensitising Guyanese about the local content legislation and opportunities.

The PSC, through its Local Content Advisory Group, has been engaging the Local Content Secretariat on a monthly basis to share information and discuss local content issues.

Also, the umbrella business organisation and the ministry agreed to  examine a 30- day payment period for small and medium-sized businesses.

The meeting held in the Boardroom of the Natural Resources Ministry was attended by Chairman of PSC, Mr. Paul Cheong; Chairman of PSC’s Local Content Advisory Group (LCAG), Mr. Shyam Nokta; LCAG Member, Mr. Joel Bhagwandin; Executive Director of the
Georgetown Chamber of Commerce and Industry (GCCI), Mr. Richard Rambarran and Executive Director of the PSC, Mr. Ian Chung. The Ministry’s team included Director of Local Content Secretariat, Mr. Martin Pertab, Senior Petroleum Coordinator, Mr. Bobby Gossai, Head
of Compliance, Mr. Mark December and Legal Officer, Mr. Michael Munroe.