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As much as US$600 million could be delivered per year from local content targets, says Guyana's VP

By OilNOW

January 24, 2022



Guyana’s Vice President Dr. Bharrat Jagdeo says the administration is leading from the front to ensure the country of just over 750,000 people benefit from the more than 10 billion barrels of oil equivalent resources which have been found offshore since 2015.


“I don’t think any country has led more from the front as we have recently on ensuring that their people benefit from oil and gas resources,” Mr. Jagdeo said during an interview last week with the National Communications Network. “I’ve examined the experience of Trinidad and Tobago, many of the other countries on ensuring this.”


Just weeks ago, the government passed the landmark Local Content Bill and finalized key amendments to the Natural Resources Fund, delivering legislation that will play a pivotal role in the management of the country’s emerging oil and gas industry.

 

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