Latest update February 14th, 2025 8:22 AM
Guyana’s oil sector stands to benefit from free movement of skills under CSME
Given the need for technical and other expertise in the emerging oil and gas sector, Guyana is set to benefit significantly from CARICOM nationals
Executive member of ACM Wesley Gibbings
given the provision of the Caribbean Single Market and Economy, (CSME).
CSME Is intended to benefit the people of the Region by providing more and better opportunities to produce and sell our goods and services and to attract investment. CSME is intended to create one large market among the participating member states.
Key elements of the Single Market and Economy include free movement of goods and services among nationals of participating nations.
Owing to Guyana’s status quo, the country is set to benefit significantly from regional expertise given the provision under CSME.
However, regional journalist and Executive member of the Association of Caribbean Media Workers (ACM,) Wesley Gibbings, explained that at this stage, the country must determine how the CSME provisions will impact its local content.
Speaking at a training forum for local media operatives last weekend, Gibbings noted that at this time, with its emerging oil sector, Guyana should be determining what constitutes local content.
According to Gibbings, owing to the CSME status, which factors in the free movement of qualifying Caribbean nationals, Guyana would need to observe how the import of regional skills will impact the locals.
He noted that with the influx of regional skills under the CSME some countries put systems in the place to protect the interests of their nationals.
“Usually these occur in exceptional circumstances…However I am not aware that Guyana has taken such steps to do so.”
The facilitator noted that there are certain categories of skilled workers from the region which will be allowed to participate in the local oil sector via CSME.
“Possibly engineers, geologist and those who have earned their degree in the specified fields.”
Local Content under the Guyanese narrative will be understood as the sum of inputs of local goods and services including employment across the oil and gas value chain. The primary aim and objective of the local content is ensuring the education, inclusion, and advancement of as many as possible in the value chain of the oil and gas industry.
In an effort to maximise benefits and retain value from Guyana’s petroleum resources, considerable focus will be given towards Capacity Development, Local Content and Value Addition.
Guyana is still in the process of drafting a policy which will guide its local content for the oil and gas sector.
Recently, head of the Department of Energy, (DoE) Dr. Mark Bynoe, noted that the department is aiming for finalisation of the document by the end of June.
Dr. Bynoe noted that before the document is finalised, the draft will go out for consultations with the private sector and other stakeholders.
“I should say, however, that the private sector has asked since we have had multiple consultations before, that this process not be lengthy but we seek to condense it so that we can move to finalisation,” Bynoe said, while noting that the DoE has also been working with operators to ensure that there is greater “granularity” in terms of the presentation of their plans.
Meanwhile, it was noted that under CSME certain categories of workers who possess the skill and qualification would be accredited. These include University Graduates with at least a Bachelor’s Degree or equivalent qualifications, such as ACCA qualifications Pts 1 & 2; Musicians; Artistes; Sports Persons; Media Workers; Registered Nurses; Trained Teachers; Artisans, who have obtained a Caribbean Vocational Qualification (CVQ); Associate Degrees and equivalents (University Diplomas; Technical Institutes [GTI] – Diplomas, and Technician Certificates Parts 1 & 2; CAT – Completed qualifications.
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