Local Content Act may be amended to force oil firms to unbundle contracts

(Kaieteur News) – The Local Content Secretariat established through the Ministry of Natural Resources is mulling changes to the 2021 Local Content Act to mandate oil and gas companies to unbundle contracts to better allow Guyanese companies to secure opportunities.

During the Guyana Supplier Forum at the Marriott Hotel in Kingston, Georgetown, Director of the Local Content Secretariat, Michael Munroe urged oil and gas companies to ensure procurement opportunities are packaged in a manner that allow Guyanese companies to take full advantage.

Oil and gas companies are known to ‘bundle’ a host of procurement opportunities in one Request For Proposal (RFP) such as pest control, sanitation and security services which often deters a local business from participating in the bidding process since that firm may not offer all the services requested.