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PC creates platform for local companies at ONS 2018

  • SOURCE: citibusinessnews.com | Citi FM
  • The Chief Executive Officer of the Petroleum Commission(PC), Egbert Faibille Junior has indicated that the commission is creating a platform for local indigenous companies to partner with international firms to expand Ghana’s petroleum upstream sector.

    The move, according to him, will also help Ghanaian companies to enter into joint venture deals with international companies to meet the requirements needed for foreign companies to operate in Ghana.

    Speaking to journalists before the opening of the Offshore North Sea (ONS) Conference in Stavanger, Norway, Mr. Faibille stated that over forty Ghanaian companies were invited to collaborate with international partners.

    He explained that the aim of the commission is to expose Ghana’s growing oil sector to multinational companies to collaborate with indigenous Ghanaian companies to create jobs.

    “We at the Petroleum Commission have organized this trade mission on the back of the ongoing ONS conference which has thousands of delegates from all over the world attending. Our aim is to ensure that each and every one of you the Ghanaian companies that have been selected to come along on this trade mission to get the opportunity to leverage and build the needed synergies and attract the needed necessary investment into Ghana’s upstream,” he explained.

    WhatsApp Image 2018-08-27 at 12.41.54 PM

    He pointed out that, the collaboration will also allow local companies assess the needs of international companies on specific needs that are required for joint venture.

    Mr. Faibille recalled several complaints from international oil and gas companies that have bemoaned the low capacity of some local companies in meeting international standards.

    He was of the view that exposing such local companies to the international world at the early stages of deliberation will equip them on what to look out for.

    “At the Petroleum Commission, I have been inundated with too many calls; too many request, and indeed too many complaints about lack of contracts in the upstream sector. What we seek to do with this trade mission is to bring Ghanaian companies to such a platform, and at least hold your hand and introduce you to companies that matter, companies that are looking for businesses in Ghana,” he stressed.

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    Meanwhile, a Deputy Minister for Energy, Joseph Cudjoe who was part of the mission to Stavanger, Norway disclosed that government is planning to develop Western region in general, and Sekondi-Takoradi in particular into a modern petroleum production city.

    “You will notice that when you mention, U.S for oil and gas industry, there is a city you can point to, example Houston. You know that they have consciously developed that enclave for those activities. If you think of UK and Scotland, you can mention a city, Aberdeen. That is the way it works”.

    He argued that such a unique identification will help attract investors and drive the needed funds into the region.

    The Petroleum Commission  was invited by Aker Energy and the Norwegian Energy Partners.

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