Monday, August 30, 2010

PEF intensifies local content participation

Stakeholders in the oil and gas industry have proposed to government it develops policies that will have 90 percent local content participation by 2020 to make the industry more beneficial for Ghanaians.

This is to ensure that Ghanaians derive the maximum benefits from the sector by fully participating in the activities of the petroleum value-chain.

Dr. Osei Boeh-Ocansey, Director-General of Private Enterprise Foundation (PEF), addressing the media in Accra on the ‘Opportunities In Ghana's Emerging Oil And Gas Industry For Local Participation,’ said government needs to focus on standardisation and skills development for local operators in the industry in order to achieve 90 percent local content by 2020.

“Government should develop local content policies by following existing international best-practices to help in increasing local content and high local participation in the industry.

“As a country, we should clearly define appropriate standards and communicate these to the local companies; what assistance can be provided in helping local companies meet these standards; and how to monitor compliance regarding utilisation of local content in the oil and gas industry.

“A key development objective of government regarding the country’s oil discovery is to grow the economy rapidly to achieve accelerated development and industralisation.

It is anticipated that development of the oil and gas industry will be a source of accelerated growth, poverty reduction and general prosperity to the people of the country,” he stated.

Dr. Boeh-Ocansey also mentioned that the active involvement of Ghanaians in oil and gas development through local content and participation has become a major issue, and it is the desire of government and the citizenry to control as well as derive the benefit inherent in the discovery and production of the resources.

Government sources have indicated that a concluded draft local content policy, expected to be passed into law by Parliament soon, provides for an initial 50 percent participation by Ghanaians - in terms of staffing of companies servicing the sector as well as in the deliveries of goods and services.

Dr. Robert Adjaye, Rector, Petroleum Skills Development Institute, indicated that though government may have put in place a local content regime for the emerging oil industry, Ghana should not to relax and expect that things will fall into the right places. Rather, it should make meaningful contributions to ensure that policies put in place are pursued.

He urged the public to position themselves to strategically to derive maximum benefit from the sector.

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