Guyana's Oil Boom Fuels Local Content Growth

Guyana's booming oil and gas industry is driving local content development, creating new opportunities for domestic businesses and workers. To support its ambitious production targets of 1.3 million barrels per day by 2027 and 1.7 million barrels per day by 2030, the country is placing a strong emphasis on procurement, technical training, and supply chain growth.

Since the Local Content Act took effect in December 2021, local companies have secured more than $2 billion in procurement opportunities, with over 1,200 Guyanese businesses now participating in the petroleum sector. The government has also approved Local Content Plans for more than 40 operators and contractors, including ExxonMobil Guyana and CNOOC Petroleum Guyana.

The country's oil production is expected to support a range of new projects, including Uaru, Whiptail, Hammerhead, and Longtail, which will create opportunities for local companies across engineering, fabrication, logistics, marine operations, and technical services. Workforce development is also growing alongside this project pipeline, with the Guyana Technical Training College building internationally certified expertise in deepwater drilling and offshore operations.