GUYANESE businesses earned an estimated US$466.2 million in the first half of 2026 through procurement in the goods and services sectors that Guyana’s Local Content Act reserves for local participation within the oil and gas industry.
This was outlined in the Ministry of Finance’s Mid-Year Report which was released on Monday.
According to the report, roughly 500 Guyanese businesses registered with the Local Content Secretariat over the same period.
The gains come as government moves to speed up the certification process that determines which firms qualify for that reserved work.
An online portal launched in the first half of the year has cut processing times for new applications and renewals, the report states.
Wholly-owned Guyanese companies and business partnerships now receive decisions on new applications within 15 working days and on renewals within 10 working days, while other firms wait up to 21 working days for new applications and 15 working days for renewals.
That effort builds on regulatory groundwork laid earlier in the year. Continued stakeholder engagement on revising the Act’s first schedule, the specific list of oil and gas-linked goods and services reserved for Guyanese firms, identified 20 additional areas for possible inclusion.
The push comes against the backdrop of an oil and gas industry that expanded by an estimated 41.3 percent in the first half of the year, with production averaging roughly 902,000 barrels per day, underscoring the scale of the supply chain from which Guyanese businesses are now entitled to a growing share.
