The Ministry of energy in partnership with Tullow Ghana Ltd, the Jubilee Partners and the Ministry of Trade and industry on Thursday signed a Memorandum of Understanding (MoU) for the establishment of an Enterprise Development Center in the Western Region, aimed at promoting and enhancing Small and Medium Enterprises (SME’s) active participation in the oil and gas industry.
The Enterprise development center is an initiative of the government of Ghana and being driven by the Ministry of Energy and the Ministry of Trade and Industry to put in place monitoring mechanisms to ensure local content and give priority to Ghanaians in job opportunities and procurement practices across all the sectors of the economy.
In line with this, the Ministry of Energy has developed local content and local participation in Petroleum activities policy. The policy outlines strategies on how to develop the oil and gas industries with optimal local content and participation, enhance national development, create jobs; and also effectively manage the potential revenue from oil and gas production and processing. It is to also ensure security for oil and gas installations and the industry as a whole.
Tullow Ghana Ltd acting on behalf of the Jubilee Partners, (Kosmos Energy, Anadarko, Sabre) is funding the project over a period of five years with an amount of US$5 million. The Jubilee Partners are currently spearheading a tender process that will lead to the awarding of a contract for the management of the center.
Minister of Energy, Dr. Joe Oteng – Adjei mentioned government’s commitment to ensuring that Ghanaians are the main beneficiaries of the country’s oil resources through this initiative.
“I am confident that the significance of what we have done here today will be seen several years ahead when our local business entrepreneurs and contractors begin to compete successfully in international oil and gas business”
He praised the jubilee partners for agreeing to fund the initiative adding the MoU is a true meaning of public – private partnership anchored on mutual respect and commitment to create shared and sustainable prosperity.
Speaking on behalf of the Jubilee partners Mr Dai Jones said:
“today’s event demonstrate what we stand for as partners to help in the development of Ghanaian suppliers, not only to help them respond positively to tenders, but also improve their business processes and gain the competitiveness to rival international suppliers. Our commitment to the government and people of Ghana as partners should be measured by these key initiatives that we continue to support. This is practical demonstration of meeting our pledge to ensure that this national resource benefits the people of Ghana in more ways than just revenue to government’’.
Ministry of Energy