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14.05.2019 Business & Finance

Petroleum Commission Urges IOCs To Build Capacity Of Local Companies

Emmanuel Ohene-Gyan
Petroleum Commission Urges IOCs To Build Capacity Of Local Companies

The Petroleum Commission of Ghana have called on international oil and gas companies and Joint Venture companies to help build and develop the capacity of indigenous Ghanaian companies to their full capabilities within the oil and gas industry.

Chief Executive Officer for the Commission, Mr Egbert Faibile Jnr speaking at 2019 edition of the Offshore Technology Conference (OTC) which took place in Houston Texas also described the number one oil and gas conference in the world successfully.

He said the four days event afforded the Ghanaian contingent to networked and meet global leaders within the upstream sector, industry players and stakeholders and deliberated on effective and sustainable ways to promote local content and local participation as well.

On the part of the Ministry and the upstream petroleum regulator, the Minister, Board and Management continue to assure that no stone will be left unturned in ensuring that stakeholders are compliant with policy regulatory framework of the Commission as enshrined in the various legislative instruments.

“With the implementation of L.I 2204, activities within the upstream space has been streamlined, yet the Petroleum Commission will not relent in its efforts to ensure that every company comes on board” CEO of the Commission, Mr. Egbert Faibille Jnr. stressed.

“With the soon to be developed Petroleum hub in the western region of the country, it is evident that our dear nation is poised for investment opportunities” remarked Minister of Energy, Hon. John Peter Amewu.

Next year, it is believed that operations of Small and Medium Scale Enterprises (SME’s) registered with the Commission would have recorded significant strides as they position themselves strategically to hit good deals and JV partnerships. With the drive for more people in the diaspora to come and do businesses in Ghana, many are of the view that Ghana’s upstream petroleum sector will be an investment destination

”Our country is open for various business opportunities especially within the upstream sector” said Ghana’s Ambassador to the United States of America, H.E Dr. Barfour Adjei Barwuah

With many take home notes from the 4-day deliberations and high-level powered discussions, many say the outlook of the industry looks positive.

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