Local content

{
  "id": "MLC-T-OAG-004375",
  "term": "Local content",
  "field": "Oil and gas",
  "definition": "A government policy or contractual requirement for oil and gas companies to use a specified proportion of domestic labor, materials, and services in their operations. The objective is to foster economic development in the host country by building local industrial capacity and creating jobs for the national workforce. These requirements are detailed in production sharing contracts or national petroleum laws and vary widely in their scope and enforcement from one jurisdiction to another.",
  "subject": "Oil and Gas Business",
  "url": "https://mlchart.com/terminology/oil-and-gas/local-content/"
}