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13.05.2019 Business & Finance

Petrocom Urge Ghanaians In Diaspora To Tap Into Upstream Opportunities

Petrocom Urge Ghanaians In Diaspora To Tap Into Upstream Opportunities
LISTEN MAY 13, 2019

Ghanaians in the diaspora have been told to come home and explore the numerous business opportunities the upstream petroleum industry presents.

CEO of Petroleum Commission, Egbert Faibille Jnr. said although the upstream sector is evolving, it seeks to create fair and equitable competition in a credible manner.

He was speaking at the Oil and Gas SME Networking Session organized by the Ghana Houston Business Chamber during a panel discussion recently.

The session afforded Ghanaians in the diaspora the platform to understand the country’s oil and gas sector and collaborate with Ghanaian SME’s in the upstream sector to tap into opportunities

Stressing on the importance of regulation (L.I 2204), the CEO of the Commission indicated the need for diasporans to drive the Ghanaian economy is paramount.

“A conducive environment will be created for the diasporas to invest in the various sectors of the economy,” he said.

He further explained the processes involved in registering with the Commission as well as the importance of Joint Venture agreements and protocols in the industry.

The Country Manager of Kosmos Energy, Dr Joe Mensah shared his experience on how he overcame challenges relating to settling and operating a business in Ghana a decade ago when he decided to move to the country.

He indicated that diasporans willing to operate businesses in the oil and gas industry in the country should avoid the negative perceptions and imbibe the “I-can-do-it” attitude.

Director of Local Content of the Commission, Kwaku Boateng said in a submission: "Local Content is a catalyst for development and offers opportunities for local companies and creates opportunities.

Therefore, as a Commission, we are committed to ensure that players in the industry play critical roles and make a significant impact in the industry.”

The Ghana-Houston Business Chamber is made up of Ghanaians in Houston. The Chamber seeks to foster partnerships aimed at promoting trade and investment between both countries.