Very usefull links


News links




Dow Jones

Oil price



Views and News





Oil companies should develop Guyana's local capacity for services needed now – Chatham House



By Kaieter News

Petroleumworld 05 14

Emerging oil producers like Guyana, should not hesitate to ensure that oil companies develop local capacity for the goods and services needed now.

This piece of advice was passed on to Guyana since 2016 by Chatham House. This London-based organization has given support to private sector, civil society bodies, and its member states, on the most significant developments in international affairs as well as on how to manage certain sectors efficiently.

Being passionate about the importance of local content, Chatham House advised that Governments should require foreign oil companies to invest in developing local capacity in goods and services for which the petroleum sector has an immediate need, or preferably, in those that have ‘dual use' applications and can also be used in other sectors of the economy.

The London-based body said that Governments should collaborate with companies to develop training and hiring programmes to ensure that they are well integrated into the petroleum projects' life cycle and into the national local content strategy.

Chatham House said it is particularly important for developing economies to devise petroleum-sector policies that maximize national development. For this purpose, it opined that governments must have clear local content objectives, which are set within a broader national vision.

It said, “For instance, they should strategically target which skills and supply chains to develop. Governments should identify the sector's expected needs and assess the potential of the resource base. Foreign oil companies can assist with providing data from their forward plans.”

Chatham House continued, “Governments should assess national capabilities in order to identify strategic targets for national development.

At the same time, governments should enact capacity-building plans to ensure that domestic producers are capable of supplying the skills, goods and services that the oil companies require. For maximum impact on the economy, these efforts should be strategic and grounded in a thorough understanding of the local context.”

The Organization added, “Preference should be given to skills that can benefit other sectors of the economy. Governments should then adopt a simple monitoring and reporting system to ensure progress is made in achieving national development goals.”

The body noted that the Government should carefully designed local content policies that address the sector's needs and are adapted to national capabilities that will be mutually beneficial.

Hit your target - Advertise with Us

Story from Kaieter News
05 14 2018

We invite all our readers to share with us
their views and comments about this article.
Write to

By using this link, you agree to allow PW
to publish your comments on our letters page.

Any question or suggestions,
please write to:

Best Viewed with IE 5.01+ Windows NT 4.0, '95,
'98,ME,XP, Vista, Windows 7,8,10 +/ 800x600 pixels

November 13 - 15, 2018.

Gubkin University, Moscow
SPE Student Chapter











Editor & Publisher:Elio Ohep/
Contact Email:

CopyRight © 1999-2016, Paul Ohep F. - All Rights Reserved. Legal Information

PW in Top 100 Energy Sites

CopyRight©1999-2017, Petroleumworld ™  / Elio Ohep - All rights reservedThis site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission fromPetroleumworld or the copyright owner of the material.