Ghana Opportunity Network

Local Participation in Oil & Gas industry

Posted on | September 29, 2010 | No Comments

The Private Enterprise Foundation (PEF) in a recent project embarked upon to identify viable opportunities available for local participation in Ghana’s emerging oil and gas industry has outlined a range of opportunities available for Ghanaian participation. Among the opportunities PEF assets are ideal for Ghanaians are;

Banking and Insurance Catering and hospitality services
Cleaning and Laundry services Clearing and Forwarding of petroleum equipment
Construction Design and Support services
Drilling and Engineering services Estate and Property management
Exploration and associated services Fabrication and Installation services
ICT Legal and Accounting services
Printing and Stationery Production operation and Maintenance services
Quality Health Safety and Environmental Services
Supply of crew men for domestic coastal services Surveying
Weather forecasting and security services Water supply and sewage disposal
Valuation


Dr. Robert Adjaye, Rector of Petroleum Skills Development Institute, pointed out key provisions in the National Energy Policy that supports increased local participation in the petroleum upstream sector. An important statement in the Energy policy states that the country should “Maximize the benefits of oil and gas wealth generation on the comprehensive local content platform by optimizing the use of local expertise, goods and services, job creation for people, business and financing in all aspects of the oil and gas industry value chain and retention of the benefit within Ghana; develop local capacity in all aspects of the oil and gas value chain through education, skills and expertise development, transfer of technology and know-how.”

Dr. Adjaye noted that the policy document is a boost to local investor participation in the emerging oil and gas trade and encourages fairness in participation between local and foreign companies. Despite the prospects stated in the document, there are several challenges that are likely to hinder its successful execution, some of which include relatively undeveloped infrastructure, absence of comprehensive and integrated national capacity building programme, inadequate training centres and institutions, poor concept of time and quality, absence of empowered and resourced agency to implement laws within the sector and limited capacity of small and medium-sized enterprises in mobilizing capital for expansion into the sector.

Meanwhile experts have predicted that the Ghanaian catering industry is likely to be left out of the oil and gas business. This is due to a lack of creativity and innovation in packaging of food and foodstuff prepared for sale on the market. They have advised local caterers and packaging industry to be creative and come up with suitable packaging technologies to be able to meet standards demanded by foreigners and locals working at the Jubilee Field especially on the Floating, Production, Storage and Offloading Vessel sections of oil exploration and production.

Article by Adnan M. Adams

Category: Business

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