Guyana’s trajectory and the lessons it offers in local content development will be a key focus at Caribbean Energy Week (CEW) 2026 in Paramaribo, taking place on March 30 to April 1. The event will feature the session, From Discovery to Development: Maximizing Local Value Creation in the Caribbean’s Emerging Oil Economy, highlighting how emerging Caribbean producers can apply regional best practices. With Suriname preparing to launch its own National Local Content Program in 2026, the timing provides a critical opportunity for stakeholders to learn from Guyana’s rapid ascent and avoid common pitfalls.

Build the Right Framework Early

One of the strongest preconditions for Guyana’s success has been the early establishment of a clear framework to govern how local players participate in the oil industry. After major commercial discoveries in 2015, the government spent several years drafting a comprehensive Local Content Policy, finalized in 2019–2020. The policy included concrete measures: suppliers were categorized based on domestic capacity, operators were required to submit annual Local Content Plans detailing local hiring, procurement and training initiatives, and reporting mechanisms ensured progress could be monitored transparently. These provisions turned broad ambition into measurable, actionable commitments, providing clarity to investors and local stakeholders from the outset.

Contrast this with Suriname’s situation: while its 2026 National Local Content Program has been announced, key components – legislation, enforcement mechanisms and detailed targets – are still being developed. To avoid delays, Suriname must prioritize translating policy into enforceable regulations before large-scale production begins. A dedicated Local Content Development Office or equivalent institution should be resourced, empowered to monitor compliance, and required to transparently report outcomes.

Strengthen Skills and Supply Chains

Guyana did not rely solely on foreign expertise. Recognizing that oil and gas operations require specialized knowledge and services, the country invested in workforce training early on. In 2022, it launched its first petroleum training facility to build the technical and managerial capabilities needed to support the expanding offshore sector. Earlier in 2025, Guyana introduced its first fully in-country training program, meaning all instruction is delivered locally, further strengthening domestic capacity.

Suriname should replicate and expand on this model. Given the technical demands of offshore oil and gas, it is essential to support domestic companies in meeting certification, safety and quality standards. Sustained investment in training, professional certifications and SME development ahead of peak drilling or production phases is critical. Equally important is helping local suppliers scale up across sectors such as platform services, logistics, maintenance and other ancillary services to ensure meaningful local participation in the emerging oil economy.

Collaborate Regionally for Better Outcomes

A key advantage for Suriname in 2026 is the opportunity to learn from and engage with regional peers. The Caribbean shares similar geography, economic structures and governance challenges, making knowledge exchange particularly valuable. With CEW featuring a dedicated Local Content Track, Suriname can draw on the experiences of Guyana, Trinidad & Tobago, and other regional leaders.

Platforms like CEW allow policymakers, investors, local entrepreneurs and civil society to convene to share best practices, address governance challenges and build partnerships. Regional collaboration can also support the creation of shared service hubs, cross-border supply chains and pooled training initiatives, reducing costs and accelerating capacity building across the sector.

Join us in shaping the future of Caribbean energy. To participate in this landmark event, please contact sales@energycapitalpower.com.