10 years of LI 2204: Joe Wise bemoans low local input in upstream petroleum sector
He has thus tasked the Petroleum Commission to do more to train more Ghanaians to participate in the sector.
The Member of Parliament for Bekwai and the First Deputy Speaker of Parliament, Joe Osei Wusu has bemoaned the low local participation in Ghana’s petroleum upstream sector.
He has thus tasked the Petroleum Commission to do more to train more Ghanaians to participate in the sector.
He made these known at the launch of the 2023 Local Content Conference and Exhibition (LCCE), an event that is held annually to discuss ways to enhance local content in Ghana’s sector.
It’s been sixteen (16) years since Ghana discovered oil in commercial quantities, and ten (10) years since Ghana passed the Petroleum (Local Content and Local Participation) Regulations, 2013 (LI 2204).
As such, Mr. Osei Wusu, who is also a board member of the Petroleum Commission, was not enthused that the dominance of expatriates in the sector is still higher than that of the locals.
He, however, commended the Petroleum Commission for its efforts in training Ghanaian welders for the sector, which has thus helped to reduce dependence on others from other countries.
ExxonMobil’s possible return to Ghana
Present at the event was also the Minister for Energy, Dr. Matthew Opoku Prempeh, who hinted at the likely return of ExxonMobil Corporation, a multinational oil and gas company, to Ghana after its exit some years ago, emphasizing that the nation's upstream sector continues to attract global giants.
Moreover, he touched on the further boost of collaboration between indigenous Ghanaian companies in the sector and foreign entities made possible by the L.I. 2435 adopted in 2021.
Also, the Minister said that the amended version of the L.I. has provided for collaborations such as strategic alliances and channel partnerships between the local Indigenous companies and foreign companies.
Additionally, Mr. Opoku Prempeh, in outlining the contributions of the LI to local participation, said that it redefined indigenous Ghanaian companies by enhancing services reserved for them in the upstream sector.
In all, the Minister commended the Petroleum Commission for helping to improve local content and participation in the sector but also urged them to train more local personnel.
Finally, the Chief Executive of the Petroleum Commission, Egbert Faibille, was certain that by enhancing in-country value retention through the participation of local indigenous Ghanaians, lasting benefits would be secured for the upstream sector.
The 2024 LCCE, which is expected to take place from November 21 to 24 in Takoradi, will be on the theme “10 years of local content in Ghana’s upstream petroleum industry: – Achievements, challenges, and prospects.”
