Local content in Ghana is growing by leaps and bounds in the petroleum sector. According to the country’s energy minister, John Peter Amewu, over 600 indigenous companies have been awarded various contracts to provide services in the sector.
Amewu was addressing the opening session of the 4th Africa Oil Governance Summit organized by the Africa Center for Energy Policy (ACEP) under the theme “Harnessing the Potential of Local Content for Economic Growth and Inclusive Development.”
In November 2013 laws were passed calling for the promotion of value-addition and job creation through the use of local expertise, goods and services business, financing in the petroleum industry value chain and their retention in Ghana.
At the commencement of oil production at the Jubilee Field off Cape Three Points in the south-western part of the country, less than 100 Ghanaian firms were registered to provide services in the oil and gas industry.As of September, there were over 600 indigenous Ghanaian companies registered and providing goods and services to the industry.