On December 31st, 2021, the country of Guyana implemented stringent local content legislation to take effect on their booming petroleum sector. Local content legislation is a way to ensure that the people of Guyana don’t get left behind as the country’s resources are developed. The legislation creates a framework that causes the benefits from foreign and national investment to reach the people of the country in instances where companies could potentially bring in suppliers and employees from elsewhere in the world.

At NetBenefit, we’re a proponent of local benefits, community building, capacity building, and equality. Over the past several months, the team has spent a lot of time in Guyana. Tracking local content is what we do, and we’re committed to partnering with local Guyanese companies and developing deep relationships in Guyana as we grow our presence there.

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Click here to read the full OilNow article.

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