‘Spread your wings regionally’ – Min. Bharrat tells locals in oil sector

Jun 20, 2026 News

(Kaieteur News) – Local companies operating in the oil and gas sector are being encouraged to extend their reach regionally. This call was made on Wednesday by Minister of Natural Resources Vickram Bharrat.

Minister Bharrat encouraged the local companied to venture to Trinidad and Tobago, Suriname and Brazil. He was at the time speaking at the Handover Ceremony for the Letter of Approval of Local Content Plans held at the Duke Lodge, Kingston, Georgetown.

“…I think the local private sector, they too deserve a big round of applause for answering, for taking the risk, for answering the call, and for investing. And they have realised now that the oil and gas sector is different, different in the sense that you can’t do it alone most of the time, you need partners. You need partners, because we didn’t have the experience, we didn’t have the expertise, we didn’t have technology,” he said.

‘Spread your wings regionally’ – Min. Bharrat tells locals in oil sector

Minister of Natural Resources, Vickram Bharrat

In this regard, locals partnered with foreign companies that brought the resources, qualities and expertise needed to Guyana, working together to build out the oil and gas sector.

“I want to encourage you don’t stop here, Suriname our neighbour is developing their oil and gas sector. Sometime soon they too will start producing, and exploration continues there. Some of the companies involved here are also in Suriname. So, why not spread your wings?” the minister encouraged.

The minister continued: “We can have a Guyanese branded company say that we are working in Brazil oil and gas sector, or Suriname oil and gas sector. That is what we want to see from our local companies, because over the last five years we built capacity, you’re fully entrenched in the Guyana oil and gas sector.”

His comments come on the heels of Finance Minister Dr. Ashni Singh urging Guyanese business owners to pursue investment and expansion opportunities overseas, arguing that local companies should follow the example of foreign investors who continue to flock to Guyana’s rapidly growing economy.

Last month, while addressing the Private Sector Commission’s 34th Annual General Meeting at the Guyana Marriott Hotel, Dr. Singh said Guyanese businesses should begin positioning themselves beyond the domestic market and seek to establish a presence in regional and international economies.

“I will tell you all of the big regional conglomerates, all of the big regional conglomerates started as a family-owned business, or as family-owned businesses. The big regional giants like Massy. Regional giants today, they all started as family-owned businesses within a single domestic jurisdiction. Through consolidation and strategic partnerships, through active pursuit of regional markets, they have now grown and expanded into large regional conglomerates with not only a regional footprint but a global footprint,” he said.

Dr. Singh’s appeal may raise questions among some local business owners who argue that many sectors within Guyana’s own economy have become increasingly dominated by foreign companies and workers, leaving local firms struggling to access opportunities in their home market even amid unprecedented economic growth.

That reality has fueled concerns about whether Guyanese businesses should first be given a stronger foothold at home before being encouraged to seek expansion abroad.

The finance minister reminded that the vision President Irfaan Ali has for Guyana is one where Guyanese companies will be the next big regional conglomerate, having a global footprint as many others like Trinidad and Tobago, Barbados and Jamaica which had emerged in a previous era.

“…we must fix the roof while the sun is shining and not when it begins to rain”, the minister said noting that as far as things on the economic side are concerned, the sun in Guyana is currently shining brightly and in the right way on the business community. “So, from that perspective it is best to fix the roof”.

“For us to continue to grow in the manner that we have been growing, and for us to realise the potential to which we refer, it is absolutely imperative that we are globally competitive, that we not only secure transactions and deals and contracts, but that we are able to deliver them at world-class quality and world-class efficiency,” he said.

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Local Content Plans, Oil and Gas Sector, oil sector, Vickram Bharrat

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