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Forum On Policy Framework For Local Content In Oil And Gas Industry

Cabinet has approved the policy framework for local content and local participation in petroleum activities. The policy is to be developed into legislation to ensure that Ghanaians derive maximum benefits for Ghana’s oil find.

The Deputy Minister for Energy, Hon. Emmanuel Armah-Kofi Buah, disclosed this at a forum dubbed “Roadshow on local content” in Accra yesterday.

The forum was the last of a series of Road- shows organised under the auspices of the Ministry of Energy in all the ten regions of the country.

Hon. Buah also disclosed that Government has begun the construction of pipelines to convey gas to the proposed gas processing plant at Bonyere in the Western region for the production of ethanol, methane, propane and fertilizer.

The Energy Minister indicated that gas will also be piped to the existing power plant at Aboadze to generate electricity for the country.

He said plans are also underway to build an industrial estate to house the petrochemical and other industrial facilities, while a harbour, warehousing facilities, storage tanks and a rail line, which are all required for the emerging oil and gas industry, will also have to be built.

“With the availability of gas as a cheap energy source, any sort of industrial activity can take place within the area of oil and gas activity “, Mr. Buah emphasised, adding that ancillary business activities like real estate development, telecommunications, banking, insurance, weather forecasting, search and rescue services, transport and catering, among others, will also flourish.

Welcoming participants to the forum, the Greater Accra Regional Minister, Hon. Nii Armah Ashietey, described the forum as an important milestone in Ghana’s march towards the development and sharing of critical skills, knowledge and competencies that will ensure efficient and effective management of the emerging oil and gas industry.

Hon. Ashittey said the essence of the local content and local participation policy on oil and gas operations is to ensure that Ghanaians reap the highest possible benefits from Ghana’s oil find.

He expressed the hope that the consultation with stakeholders on the policy framework for local content and local participation in petroleum activities will greatly enrich the final policy framework that will be acceptable, transparent and ensure the judicious use of the oil wealth.

Source: ISD (G. D. Zaney)

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Reporting Oil and Gas project was launched on 4th June 2009atTakoradi, Western Region, Ghana by Penplusbytes (PPB – www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector
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