to rely on the LCLP to achieve at least 90% local participation in all aspects of the petroleum value chain by 2020. This expectation was, however, considered unrealistic as no country has ever achieved 90% local content in the history of petroleum production. The highest ever achieved is 74% by Norway in 1994[6].
However, achieving the goals of the local content initiatives calls for local people to possess the requisite knowledge and expertise in the areas in which they wish to participate. Energy firms in many developing countries often face human capacity and technical challenges that arise from the inability of local subcontractors and suppliers to meet capital and operational requirements set by the industry.[7] It behooves us therefore as Guyanese to equip ourselves with the technical skills needed to enable us to fully embrace the benefits of our spheres of operation.
[6] Ibid
[7] Peter Arthur and Emmanuel Arthur, Local Content and Private Sector Participation in Ghana’s Oil Industry: An Economic and Strategic Imperative, Africa Today, Vol. 61, No. 2 (Winter 2014), pp. 57-77, https://www.jstor.org/stable/10.2979/africatoday.61.2.57
