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The Chief Executive Officer (CEO) of the Petroleum Commission (PC), Mr Egbert Faibille Junior, says the Commission’s determination to embark on trade missions with indigenous firms is to create the opportunity to strike partnership deals with their foreign counterparts in the upstream oil sector.

The move, according to him, will also help Ghanaian companies to enter into joint venture deals with international companies to meet the requirements needed for foreign companies to operate in Ghana.

He explained that the aim of the commission is to expose Ghana’s growing oil sector to multinational companies to collaborate with indigenous Ghanaian companies to create jobs.

He was speaking at a breakfast meeting held to herald the official opening of the Offshore North Sea Conference and Exhibition in Stavanger, Norway.

Mr. Faibille Jr. made reference to the country’s local content regulation and said any foreign contractor or company wanting to do business in Ghana’s upstream sector, had to incorporate a joint venture with a Ghanaian company and should afford that local company, at least 10 per cent equity of the business operation.

It was on the back of this “that we seek to escalate and indeed drill down and ensure that Ghanaian companies are better positioned so that it becomes a win-win situation and the investors make maximum profit and the indigenous Ghanaian companies also make maximum profit”.   

He encouraged the trade delegation to take advantage of the opportunity to build the needed synergies to attract more investment into Ghana’s upstream sector.

He added “this is not a joy ride, this is a business trip and so our expectation is that before we go back, each and every one of you would have gotten business, because contracts and sub contracts will be awarded and it is on the back of it that you are all here.

"So go to the companies, speak to them, find pairs and companies that operate in your sphere of business and build the needed linkages.”

Deputy Energy Minister Joseph Cudjoe, Dr Kofi Kodua Sarpong, Chief Executive Officer (CEO), Ghana National Petroleum Corporation (GNPC), Ms. Alice Torkonoo, General Manager of the Ghana Ports and Harbours Authority and Mr. Lawrence Apaale, Chief Director of the Ministry of Energy and petroleum are attending the conference together with representatives from over 40 Ghanaian companies.

The meeting was also addressed by Mr Jan Helge Skoken, Country Manager of Aker Energy and Dr Gulbrand Wangen, Director of Africa Mid stream, Norwegian Energy Partners, and the pair, urged the Ghanaian companies to brace themselves for the opportunity.

They also asked that the GNPC and the Commission should sustain the effort at deepening cooperation between Ghana and Norway.  

Earlier, Crown Prince Haakon of the Kingdom of Norway, and other high ranking Norwegian government officials had attended the official opening of the 2018 ONS, which is focussing on “big energy picture”.

Mr Patrick Pouyanné, Chairman and CEO of Total and Lise Kingo, CEO and Executive Director of UN Global Compact, were on hand, to share their thoughts on the current energy perspectives.

Over 1,000 delegates are attending the ONS conference on the theme: “Innovate” to discuss key trends driving the oil market at present and potential game changers of the future energy landscape.

The Petroleum Commission is collaborating with Norwegian Energy Partners (Norwep) to organise the trade mission that is expected to serve as an attraction to foreign investment, networking for business enterprises and for technology and skills transfer.

The Petroleum Commission, Ghana, is leading 40 Ghanaian companies to Stavanger, Norway, one of the world’s largest exporters of oil, to explore oil and gas production opportunities in the upstream sector to help boost Ghana’s sector.

The Commission in June organised the first trade mission to Aberdeen Scotland, which officials say had started yielding some follow-ups by investors in that country.

The Petroleum Commission was invited by Aker Energy and the Norwegian Energy Partners.