About 20 percent of valuable contracts in the upstream petroleum industry have been awarded to Ghanaian companies.
This remarkable improvement in the sector hinged on the Local Content Regulations promulgated by the government in 2013, LI 2204 which had created a conducive environment for indigenous Ghanaian companies to succeed in the industry.
The Minister for Energy, Dr. Matthew Opoku Prempeh told the media at the 2023 Local Content Conference and Exhibition (LCCE) in Takoradi.
He said, that in the first oil field development prior to the passage of the Local Content Regulations, only 6.5 percent of contracts were awarded to the Ghanaian companies.
Dr. Opoku Prempeh said the successes demonstrated the increasing capacity of Ghanaians to take charge of the exploitation of the hydrocarbon resources especially in the wake of the energy transition.
The three-day conference is being attended by participants from Nigeria, the Gambia, Uganda, Angola, Senegal and Trinidad & Tobago and Europe together with International Oil Companies (IOCs), International Service Companies, Indigenous Ghanaian Companies (IGCs) and other stakeholders in the upstream petroleum sector.
Listen to Dr. Matthew Opoku Prempeh in the audio below:
Story by: Emmanuel Romeo Tetteh (#RomeoWrites) / Ahotoronline.com
