MODEC, a prominent provider in the offshore oil and gas sector, has received approval for its Local Content Master Plan from Guyana’s Ministry of Natural Resources, marking a major step in the company’s commitment to sustainable economic development within the country.

This strategic plan, which will span from 2024 to 2028, aims to enhance local employment, support Guyanese businesses, and foster long-term community benefits aligned with the Local Content Act Nº. 18 of 2021.
MODEC’s Country Manager in Guyana, Rafael Fumis, expressed the company’s excitement over the plan’s approval, highlighting its significance in promoting local capacity and economic growth.
“This milestone represents a significant step forward in our commitment to local capacity development,” Fumis said. “By fostering a collaborative approach toward local SMEs, we aim to create sustainable growth and opportunities within the community. This plan underscores our dedication to corporate social responsibility, ensuring that our operations contribute positively to Guyana’s socio-economic landscape.”
The five-year plan outlines MODEC’s strategy to prioritise the hiring of Guyanese nationals and work closely with local businesses in procuring goods and services. It also commits to providing training and capacity-building initiatives that will elevate Guyanese expertise within the industry. MODEC emphasized its goal of maximizing local content while maintaining high standards in quality, compliance, and safety.
With a history of over 50 years in the offshore oil and gas industry, MODEC operates across five continents, offering advanced technology solutions rooted in integrity, safety, and environmental responsibility. The company views the approved master plan as a testament to its dedication to the local workforce and community in Guyana, contributing to the nation’s economic growth and the ongoing development of its energy sector.