Ghana to develop local content in oil and gas industry

Accra, March 22, GNA- Mr Emmanuel Armah-Kofi Buah, Minister of Energy and Petroleum says Ghana would under study indigenous companies in sub-Saharan Africa to accomplish her local content in the oil and gas industry.

Mr Armah-Kofi Buah said the country's move to achieve its local content target is shifting to high gear.

The Minister made the remarks when Mr Emperor Chris Baywood Ibe, President and Chief Executive Officer of Baywood Continental Limited (BCL) led a delegation to call him in Accra on Thursday.

BCL is a wholly owned Nigerian company incorporated in 1989, working in the gas sector.

It has the capacity to design, construct, operate and maintain major oil and gas facilities with an investment in equipment and plants over the last five years to the tune of 180 million dollars.

The company, which has firsthand experience in design, construction and operations of onshore base, is currently carrying a project execution portfolio of about 700 million dollars with additional 100 million dollars new projects to start in 2013.

Mr Armah Kofi-Buah, said he was impressed with the company's profile adding that it would provide a good model for Ghanaians to follow, since the country's local content policy is not only geared towards giving skills to its people but also aimed at empowering indigenously owned companies.

He said an Enterprise Development Centre is being established in Takoradi in the Western Region to build the capacity of Ghanaian businesses to participate actively and with greater success in the oil and gas industry, to creation jobs and achieve locally-base economic growth.

Mr Ibe said his company is ready to enter Ghana's oil and gas industry, for mutually beneficial partnership to ensure the growth of the country's indigenous companies.

GNA