The Local Content Bill was passed parliament by in 2013 to ensure that local entrepreneurs are able to participate in the oil and gas industry. As part of its provisions, the law requires that there be at least 5% equity participation by an indigenous Ghanaian company other than the GNPC to qualify international oil companies entry into the local oil and gas industry. Two years down the line, the oil sector has seen more involvement of indigenous companies but there is still more room for improvement.
Speaking to Star News at the launch of the Ghana Local Content Awards, organized by the Sekondi Takoradi Chamber of Commerce, Oil and Gas Consultant Dr Anthony Paul suggested closer collaboration between various institutions involved in the industry.
The Ghana Local Content Awards will be a permanent fixture in the Ghana Extractive Industries Safety Conference. The nominees will be selected by a three member committee based on the analysis of each reviewer’s recommendations. Dr Paul encouraged the STCCI to maintain integrity in the selection of awardees.
Source : http://www.spyghana.com/local-content-in-oil-sector-awards-launched/