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Petroleum Commission to Insist on Advertising Contracts from April 1st

  • SOURCE: reportingoilandgas.org | Gideon Ofosu-Peasah
    • POSTED ON: February 20, 2018
    • CATEGORY:

    Ag. CEO of the Petroleum Commission. Mr. Egbert Faibille has indicated resolve of the Commission to insist on the advertisement of procurement needs by IOCs. Mr. Faibille stressed that the outfit is worried as the development also leads to the awarding of contracts to favourites. “…But from April 1, anybody in the upstream sector who has any contract of a hundred thousand dollars and above to give up, will have to submit that contract to the Petroleum Commission at least two months before the award of the contract so that we will get to know what is involved and will alert all those companies that could put in bids to do so; the time for short term and knee-jerk approaches is over,” he said. This was at the maiden Local Content Procurement Conference held in Accra on Monday which sought to bring IOCs and indigenous companies to share their requirement to enable indigenous companies to bid and win contracts in the upstream petroleum industry. Mr Faibille advised local Ghanaian companies to partner each other and team up, as well as seek partnership from well recognized international companies that have long term experiences and the technical competences so that they could win local bids and fully participate in the local industry.

    Gideon Ofosu-Peasah

    Gideon Ofosu-Peasah

    Policy Analyst at Penplusbytes
    Gideon Ofosu-Peasah is the Policy Analyst and Team Lead for the Extractives Department at Penplusbytes, where he provides insights, advice and leads in producing robust research backed projects for the team. He has over 7 years of experience in the Ghanaian oil and gas industry and has a number of scholarly research papers to his credit which have been published in the prestigious Social Science Research Network(SSRN) electronic journal and on reportingoilandgas.org. He holds an Msc in Economics with specialization in Energy and Natural Resource Economics from the Kwame Nkrumah University of Science and Technology.
    Gideon Ofosu-Peasah

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