KOTUG GUYANA INC RECEIVES APPROVAL OF LOCAL CONTENT PLANS BY GUYANA LOCAL CONTENT SECRETARIAT

June 25, 2024

KOTUG Guyana Inc, a 100% subsidiary of KOTUG International, is proud to announce a significant milestone since its inception in 2019 in Guyana. On 24 June 2024, Osman Munir, Vice-President and Chief Commercial Officer at KOTUG Group of Companies and Director of KOTUG Guyana Inc, received approval for the company’s Local Content Plans from Dr. Martin Pertab, Director of the Local Content Secretariat, during a hand-over ceremony at the Local Content Office. The approval of KOTUG Guyana’s Local Content Plans from the Local Content Secretariat includes the receipt of the Local Content Compliance Certificate. 

This approval recognises KOTUG Guyana’s strong commitment to the local content requirements under the Guyana Local Content Act.  Since 2019, KOTUG’s presence in Guyana has grown significantly, with currently five vessels operating for ExxonMobil Guyana Limited with Guyanese seafarers onboard making up approximately 21% of our workforce.  

We remain steadfast in our dedication to enhancing local content through sustained investment in spending, procurement, employment, training opportunities and initiatives, and local capacity building. Over the next years, KOTUG Guyana will strongly focus on maximising local spending, employment and providing equal opportunities for Guyanese nationals. 

As per the Local Content Act requirements, KOTUG Guyana has developed two comprehensive local content plans: a 5-year masterplan focusing on long-term spending, employment, training, and capacity building strategies as well as a detailed Annual Local Content Plan for 2024 with specific targets and KPIs.  

This recognition marks a significant milestone towards KOTUG’s vision for sustainable growth, development and local empowerment in Guyana. We are excited to continue our journey, driving positive change and making a meaningful impact in the communities we serve.