The Minister for Petroleum, Emmanuel Armah Kofi-Buah, has said that the Local Content and Participation Regulation LI 2204 passed in 2013, is already empowering Ghanaians as has been envisioned.
The Local Content legislative Instrument 2204, was passed to among other things to ensure active participation of indigenous Ghanaians along the entire petroleum value chain.
Speaking at the commissioning of a Mechanical and Welding Workshop at the Kikam Technical Institute at Kikam in the Ellembelle District of the Western Region, Mr. Armah Buah, who is also the Member of Parliament for the Ellembelle Constituency, noted that “…in terms of direct jobs, approximately 7,000 people have been employed in the upstream [petroleum] sector, comprising of 5,590 Ghanaians and 1,350 expatriates. out of the 474 companies registered with the Petroleum Commission, 321 are indigenous companies and 46 are joint venture companies.”
A substantial amount of the US$4 billion spent on the Tweneboa Enyera Ntomme (TEN) Project from 2010 to 2016 according to Mr. Buah, was spent in the country.
Contracts issued to indigenous Ghanaian service providers according to him, were also in excess of US$221million, about 73 percent increment compared to the US$ 128million for 2015.
Mr. Buah, who was optimistic of more gains under the local content LI in the years ahead, expressed the commitment of the John Mahama-led administration towards making local content and local capacity building the cornerstone of the Ghanaian oil and gas industry.
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By: Obrempong Yaw Ampofo/citifmonline.com/Ghana