Energy Minister Makes Strong Case For ‘Local Content And Local Participation’ In Petroleum Activities

Minister of Energy and Petroleum Emmanuel Armah-Kofi Buah on Friday, July 12, 2013 laid before Parliament the Petroleum Regulations Bill, 2013 (LI2204). The purpose of the Bill is to, among other things, provide for: a. promotion of maximization of value-addition and job creation, through the use of local expertise, goods and services, businesses and financing in the petroleum industry value chain and the retention of benefits within Ghana; b. development of local capability in all aspects of the petroleum value chain through education, skills and expertise development, transfer of technology and know-how and an active research and development programme; c. achievement of the minimum local employment and in-country spend in the petroleum industry value chain within a decade of the start of every petroleum license or contract, in the provision of such supplies and services specified in these Regulations; d. increased capability and international competitiveness of domestic businesses and industrial sectors; e. creation of petroleum and related supportive industries that will sustain economic development; f. achievement and maintenance of a degree of influence or control by Ghanaians over development initiatives for local stakeholders; and g. a rigorous and transparent monitoring and reporting system to ensure delivery of Ghanaian content policy objectives. In a statement issued by Edward Bawa, Head of Communications at the Ministry, successful passage of the Bill will provide the necessary legal backing to the existing Policy on Local content and Local Participation in petroleum activities published in March 2011. “The Ministry takes this opportunity to thank all stakeholders who made inputs into the drafting of the proposed regulations.”