Ghana Makes Giant Stride In Local Content For Oil Exploration

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By Cecil Mensah

The Ghana Petroleum Commission, the commission regulating the oil and gas exploration sector of the economy, has said the country, made tremendous strides in the delivery of local content in the oil exploration.

The commission said the acquisition of licenses in the sector, has made it possible for the sector to achieve this feat.

Mr Kweku Boateng, Director of Special Services at the commission, made this disclosure when he delivered a paper at the sixth Oil and Gas summit organized by Kros
Ghana limited in Accra.

According to him, Ghanaians in the supply chain are offering professional assistance to the various oil companies operating in the Cape Three points in the Western Region have won fifty out of the one hundred and twenty contracts resulting in a dividend of seven hundred and fifty million Dollars of revenue in the country.

He said, out of the over six hundred thousand jobs created in the industry almost five thousand have gone to Ghanaian companies.

He said the commission continues to develop measure s in the transfer of technology and knowledge as part of the development of the Tweneboa, Enyenra and Ntomme (TEN) project, the newly discovered oil Wells.

He said very soon the commission will release joint venture guidelines for the exploration of oil to guide Ghanaian businesses which want to go into joint venture with their foreign counterparts.

On his part, the Minister for Energy and Petroleum, Mr Emmanuel Armah Kofi Buah, said Ghana would continue to seek local content in all the agreements it signs with the companies seeking to do business in the country.

He said, the decision was not to discourage the foreign companies from coming to do business but to ensure Ghanaians to participate in the technology transfer for effective development.

He said by so doing, a lot more of Ghanaians would be employed in the oil and gas sector of the economy.

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