Efforts to Boost Small and Women-Owned Businesses in Guyana's Oil and Gas Sector

According to the Guyana Times, Michael Munroe, Director of the Local Content Secretariat, stated that efforts are underway to pinpoint specific opportunities that can be created for small and women-owned enterprises to enhance their involvement in the nation's expanding oil and gas sector. Munroe mentioned that this is a topic of discussion with major oil companies to determine what specific opportunities can be established for small and women-owned businesses during the Guyana Supplier Forum 2026, which took place at the Marriott Hotel in Georgetown on Wednesday.

In February, the Local Content Secretariat introduced a new digital Local Content Registration Portal designed to simplify the process for suppliers and contractors operating within Guyana's oil and gas sector to register and receive certification. The Secretariat uses data submitted through this portal, which includes information such as the region and sector of operation, to track and categorize the businesses being registered. Munroe explained that the Secretariat strategically uses data from employee details and revenue to classify companies as small businesses and to determine the number of small and women-owned businesses.

This digitization of the registration and certification process comes as more Guyanese entrepreneurs position themselves to participate in the growing oil and gas sector. A 2026 Mid-Year Report disclosed in September that approximately 500 Guyanese businesses applied for the Local Content Certificate from the Secretariat during the first six months of the year, a certificate that allows Guyanese individuals and businesses to benefit from designated opportunities in the oil and gas sector. That same Mid-Year report estimated that some US$466.2 million was spent on goods and services in sectors prioritized for greater Guyanese participation during the first half of 2026.

Currently, more than 2000 Guyanese businesses are engaged in the local oil and gas sector, and Lorna Carlson, ExxonMobil Guyana’s Socioeconomic Manager, indicated that these figures are continuing to increase. Carlson noted during Wednesday’s Supplier Forum that spending with Guyanese suppliers has surpassed US$3.9 billion since operations began, and spending in 2025 alone neared US$700 million. Furthermore, she reported that ExxonMobil Guyana and its contractors awarded over 150 contracts to Guyanese businesses, with more than US$317 million spent with Guyanese companies during the first half of 2026.

Carlson also stated that over 7000 Guyanese are currently employed in the oil and gas industry, describing these figures as more than mere statistics. She emphasized that behind every contract is an entrepreneur who took a risk, and behind every supplier is a business that invested in equipment, systems, business development, or people. Regarding the workforce, Carlson declared that Guyanese now represent 70 per cent of the workforce supporting operations and project activities, noting that she has not seen a workforce reach such levels of nationalization at the speed seen in Guyana, even when considering both ExxonMobil and its prime contractors.

The Local Content Act, which was passed in the National Assembly in December 2021, mandates that oil and gas companies and their subcontractors must procure services from Guyanese and Guyanese-owned businesses across 40 different service areas. However, discussions have been ongoing regarding the expansion of areas where Guyanese suppliers can participate in the industry. The Mid-Year Report mentioned that stakeholder consultations concerning the revision of the First Schedule of the Local Content Act have identified 20 additional areas for consideration under goods and services, which are currently under review by the Government, according to Munroe during the event.