Ag. CEO of the Petroleum Commission. Egbert Faibille stressed that, ExxonMobil’s tax regime has been done to ensure a win-win situation for Ghana. This was at a first Local Content Procurement Conference in Accra organize by the Local Content Directorate of the Petroleum Commission. According to him the nation had a rigid regulatory regime before the commercial discovery of oil. During this period, IOCs who operated in Ghana but murmured. During the regime of President Kufuor, the regulatory regime was made flexible. This led to the willingness of technologically advanced IOCs to come to Ghana and led to the discovery of oil in commercial quantities. He stated “We need to give up something to gain something”.