The move to get local companies to substantially participate in Ghana\u2019s Oil and Gas industry is still under pressure as figures released by the Petroleum Commission indicate that the value of activities ceded to indigenous companies in the Petroleum Upstream sector from 2010 to 2015 was only one billion dollars.<\/p>\n
In all, total value of activities in the \u00a0Petroleum Upstream sector \u00a0from 2010 to 2015 was 6.3 billion dollars with foreign companies having access to \u00a05.3 billion dollars \u00a0of the transactions compared to one billion dollars for local firms.<\/p>\n
Meanwhile, there are currently 300 indigenous companies registered \u00a0with the Petroleum Commission to work in the sector, while only 150 foreign companies do business in Ghana\u2019s Petroleum Upstream Sector.<\/p>\n
Speaking to journalists after a capacity building programme for indigenous companies, the Director, in charge of Special Services at the Petroleum Commission,\u00a0 Kwaku Boateng\u00a0 stated that it is important to build the capacity of local companies to adequately compete for contracts in the Petroleum Upstream sector.<\/p>\n
\u201cAs for the law on Local Content, it exits but the local companies must show that they can deliver before a contract will be awarded. We want to increase their participation that is why we are organizing these workshops,\u201d he said.<\/p>\n
He explained that the workshop is aimed at promoting good Health Safety and Environment Management System among local companies to build their capacities in the upstream petroleum sector.<\/p>\n
\u201cSince its establishment, the Commission has been playing a lead role in the promotion of local content and local participation in the industry by identifying existing gaps between local companies and the more experienced international companies,\u201d he said.<\/p>\n
He stated that the move is intended at bridging the gap between local companies and foreing companies.<\/p>\n
\u201cThese capacity\u00a0 building workshops have yielded results although there are still factors that work against the realization of the local content objectives in the law,\u201d he warned.<\/p>\n
He pointed out that there are still challenges such as the inability of local companies to deliver required services, limited technical capacity, and lack of access to credit among others.<\/p>\n
–<\/p>\n
By:Lawrence Segebfia\/citibusinessnews.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":"
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