A major milestone for Guyana’s rapidly expanding oil and gas sector, recent reports indicate that more than 6,500 Guyanese families are now benefiting from direct employment in the industry. This development marks a substantial increase in local participation and underscores the transformative impact of the country’s newfound oil wealth on its workforce.
The surge in employment comes as Guyana continues to cement its position as one of the world’s fastest-growing economies, with the World Bank reporting a staggering 45.6% growth in 2022. This economic boom is largely attributed to the burgeoning oil and gas sector, which has become a major driver of job creation and skills development in the country.
According to recent government data, the total number of Guyanese now employed in the sector exceeds 6,000, a figure that has seen steady growth since the enactment of the Local Content Act in 2021. Finance Minister Dr. Ashni Singh recently highlighted that from January 2022 to mid-2023, the sector witnessed 3,938 local hires, with 785 of these occurring in the first half of 2023 alone.
The workforce composition reflects a diverse range of roles within the industry. Current statistics show 824 Guyanese employed as plant and machine operators, 1,203 in professional capacities such as accountants, lawyers, and engineers, and 485 in technical positions. This distribution indicates the sector’s broad impact on various skill levels and professions within the local workforce.
Looking ahead, the future appears even brighter for Guyanese job seekers. Government-approved five-year master plans submitted by companies in the sector project the hiring of an additional 1,646 locals between 2024 and 2026. Specifically, these plans anticipate 601 new hires in 2024, 509 in 2025, and 536 in 2026.
However, the rapid growth of the sector has also exposed skills gaps in the local workforce. A study by the Centre for Local Business Development (CLBD) projects that by 2028, the oil and gas sector will require 5,828 additional workers, with high demand for science and engineering professionals, construction workers, trade workers, and mobile plant operators.
To address these challenges, stakeholders are calling for increased investment in education and training programs. The University of Guyana is being urged to expand its capacity in STEM fields, while pre-university bridging programs in science and math are being recommended to prepare more students for technical degree programs.
As Guyana navigates this period of unprecedented growth, the focus remains on ensuring that the benefits of the oil boom are widely distributed among its population. The increasing number of Guyanese families benefiting from direct employment in the sector is a positive indicator of progress in this direction.
However, experts caution that sustained success will require ongoing efforts to develop local talent and leadership capabilities. As Nicholas Deygoo-Boyer, Director of Guyana Oil and Gas Support Services Inc., notes, “Our only challenge is that we need more of them,” highlighting the continued demand for skilled local workers in this rapidly expanding industry.
As Guyana continues its journey as an emerging oil and gas powerhouse, the growth in employment opportunities for local families represents not just economic statistics, but real change in the lives of thousands of Guyanese. The coming years will be crucial in determining how effectively the country can leverage its newfound wealth to create sustainable, long-term prosperity for its citizens.
