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20.11.2019 Oil and Gas

Local Content For Oil, Gas To Be Prioritised

By News Desk
Local Content For Oil, Gas To Be Prioritised

Years after the passage of Local Content Regulations, stakeholders in the oil and gas upstream sector are gathering again at Ghana’s oil city Takoradi to study the progress made so far in promoting the participation of indigenous companies.

Ghana still has many hurdles to surmount in implementing local content policies and supporting legislation.

The 2019 Local Content Conference and Exhibition organized by the Petroleum Commission, the regulator of the upstream oil and gas industry in Ghana will provide an opportunity to do so.

This year’s event which begins on November 20-22 is focusing on maximising in-country value addition, putting the spotlight on the role of Indigenous Ghanaian Companies (IGCs) in Joint Ventures (JVs) in the upstream petroleum sector.

In his remarks ahead of the event, the Energy Minister, John Peter Amewu was hopeful the conference will offer stakeholders the opportunity to take a deeper look into the performance of Indigenous Ghanaian Companies since the passage of the Petroleum (Exploration and Production) Local Content and Local Participation Regulations, 2017 (L.I 2204).

It would also give them the opportunity to strategise on how to increase local participation and ensure maximisation of in-country value addition across the entire value chain.

“It is imperative that the Oil and Gas resources benefit Ghana’s economy beyond the direct contribution to Gross Domestic Product (GDP). Industry must work together to build the requisite capabilities of indigenous businesses, engender symbiotic growth and competitiveness, and also create jobs and wealth for the citizenry. This is how we can build Ghana beyond Aid”, he said.

This year’s programme according to the organizers, the Petroleum Commission, features various thought-provoking sessions covering a wide variety of subjects considered very germane to the deepening of local content in Ghana.

For the duration of the 2019 LCCE, we anticipate an environment for us to learn about the major challenges facing local content development, brainstorm on the way forward, enhance our knowledge and expand our respective professional networks, Acting CEO of the Petroleum Commission Egbert Faibille Jnr remarked ahead of the event.

The LCCE since its inception has created a platform for the exchange of ideas on local content development as well as providing an opportunity for networking.

Over 60 companies are expected to participate in the exhibition.

It will host international delegates from Brazil, Nigeria, Trinidad and Tobago, Uganda and Mozambique to share their experiences and expertise with Ghana.

---Joy Business

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