By Lydia Kukua Asamoah
Accra, Oct 24, GNA – The Petroleum Commission has launched the 2023 Local Content Conference and Exhibition (LCCE) in Accra, heralding 10 years of local content regulation in Ghana’s upstream petroleum sector.
The 2023 LCCE, the 8th in succession, is slated for November 21 to 24, 2023 and would be hosted in Takoradi.
The annual event would be organised by the Commission together with its partners and other stakeholders, and it is expected to be attended by over 1000 participants in Ghana and from elsewhere on the theme: “10 Years of Local Content in Ghana’s upstream Petroleum Industry, Achievement, Challenges and Prospects”.
Participants would be deliberating on factors driving Ghana’s local content achievements, factors responsible for its setbacks and what future holds for the industry and local content development.
Mr Egbert Faibille Jnr., Chief Executive Officer, Petroleum Commission, explained at the launching that this year’s LCCE coincide with 10 years of coming into force of the Petroleum (Local Content and Local Participation) Regulations, 2013 L. I. 2204.
“From that moment in 2013, many institutions, organisations and individuals have contributed in various towards the success we have seen in the sector. The Commission thanks all who have played various roles to bring local content in the upstream petroleum sector this far.”
Mr Faiblle Jnr said the Regulations states that” the Commission shall ensure that public education activities are undertaken to educate contractors, subcontractors, licensees and other allied entities, the public and industry stakeholders to educate them about the local content philosophy and to ensure the implementation of these Regulations”.
He said LCCE event was therefore, one of the means of reaching out to the public with the local content agenda.
He said the Commission had also taken strategic decision to promote the development of indigenous capabilities and the use of local capacities in the exploitation of the country’s petroleum resources by creating a conducive environment for indigenous Ghanaian companies to succeed.
“I’m also particularly proud that over the years our indigenous Ghanaian companies have taken advantages of the unique opportunities created by the Local Content Regulations and the amendments thereof.”
Mr Kwaku Boateng, Director Local Content, Petroleum Commission, said there would be over 500 upstream companies, and over 50 speakers, technical experts and moderators from government agencies, the petroleum industry, insurance companies and financial institutions, as well as regulators from other countries, academia, and civil society organisations attending the LCCE.
He said the Commission would also honour selected companies for their contributions to local content development at a “Recognition and Awards Night” as part of the 10 years anniversary.
Dr Matthew Opoku Prempeh, Minister for Energy, said the L. I. 2204 had seen an amendment with the passage of the Petroleum (Local Content and Local Participation) (Amendment) Regulations, 2021; L.I (Legislative Instrument). 2435. L.I. 2435, passed on 17th January 2022.
“The L.I. 2435 is the first amendment to L.I. 2204 and occurred under my watch. I have taken the time to speak to it because it has opened the ways of collaboration between Indigenous Ghanaian Companies (IGCs) and foreign entities that desire to undertake various scopes of contracts in servicing the Exploration and Production (E&P) spectrum in Ghana”.
“Whereas L.I. 2204 provided for joint venture partnerships as the main mode of collaboration between IGCs and foreign companies to undertake petroleum activities/oilfield services in Ghana, L.I. 2435 has added a strategic alliance and channel partnership, “the Minister explained.
He said the L.I. 2435 had also redefined what an Indigenous Ghanaian Company is and enhanced services that were reserved for Ghanaians in the upstream petroleum sector.
“The Government took the bold step to amend L.I. 2204 because it is attuned to the needs of Ghanaians in the industry and industry in general.”
The Minister said the Government would continue to do more to enhance available opportunities in the industry for Ghanaians.
He, therefore, commended the Petroleum Commission’s role in the effective implementation of the Local Content regulations and for consistently organizing the Local Content Conference for the past eight years.
GNA