The Energy Minister, Dr. Matthew Opoku Prempeh, says after a decade of the establishment of the local content regulations, about 20 per cent of the value of contracts has been awarded to Ghanaian companies.
He added that the drive towards optimal local content and participation contributed to this success. He said this at the 2023 Local Content Conference and Exhibition press engagement in Takoradi.
Dr. Opoku Prempeh noted that, when it comes to local content, the country has performed creditably; however, there is a need to ensure the full participation of indigenous Ghanaian businesses in local content.
Dr. Opoku Prempeh also stressed the need for the regulatory agencies to consider hosting an international local content conference in Ghana to showcase what Ghanaians can do in terms of local content.
According to him, the government ensured the passage of the local content regulations in 2013 to create a conducive environment for indigenous Ghanaian companies to succeed.
“Over the past 10 years, we have covered a long and successful road in the first oil development before the passage of the local content regulations. Only 6.5 per cent of contracts were awarded.
However, the wow factor about it is, that a decade after the passage of the regulations, about 20 per cent of the funding for contracts has been awarded.”
The Western Regional Minister, Kwabena Okyere Darko-Mensah, stated that it is the government’s desire to see lots of development in the oil and gas sector, adding that as they grow, the Western Region must also grow.
He called for more than 50 per cent of the oil and gas investments to be directed to the region to promote socio-economic development.
He said the region wants to be a modern region in the country by seeing more westerners own productive assets in the upstream oil and gas industry.
For his part, the Chief Executive Officer of the Petroleum Commission, Egbert Faibille Junior, commended the media for their impeccable role in the advancement of local content, saying it cannot be overlooked.
He extended his appreciation for the support they have extended over the years for the organization of local content conferences and the dissemination of broadcast matters pertaining to local content.
He was hopeful that the interface between the commission and the media would deepen.
Mr. Faibille Junior said this year’s conference is important as it marks 10 years since the coming into force of the petroleum local content and local participation regulations of 2013 LI 2204.
