{"id":60529,"date":"2023-11-24T17:38:42","date_gmt":"2023-11-24T17:38:42","guid":{"rendered":"https:\/\/www.africa-press.net\/ghana\/?p=60529"},"modified":"2023-11-24T17:40:11","modified_gmt":"2023-11-24T17:40:11","slug":"well-ensure-local-content-law-compliance-pc","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/ghana\/all-news\/well-ensure-local-content-law-compliance-pc","title":{"rendered":"We\u2019ll ensure local content law compliance- PC"},"content":{"rendered":"

Africa-Press – Ghana. <\/strong><\/span>The Chief Executive Officer of the Petroleum Commission (PC), Egbert Faibille, says the commission will not relent in its efforts to ensure full compliance with the country\u2019s local content laws.<\/b><\/p>\n

According to him, the Commission\u2019s insistence on local content, was provided for by law saying that \u201cpartial compliance is no compliance.\u201d<\/p>\n

He was speaking yesterday at the ninth edition of the annual Local Content Conference and Exhibition (LCCE) in Takoradi in the Western Region, on the theme, \u201c10 years of Local Content in Ghana\u2019s Upstream Petroleum Industry: Achievements, Challenges and Prospects.\u201d<\/p>\n

Organised by the Petroleum Commission, the conference is aimed at promoting local content and local participation in the petroleum sector in accordance with Legislative Instrument (L.I) 2204.<\/p>\n

It also marks the 10th year of the passage of the Petroleum Local Content and Local Participation Regulations, 2013 (L.I.2204), designed to maximise the patronage of Ghanaian goods and services, increase in-country-spend and employment of Ghanaian professionals.<\/p>\n

Citing Regulation 49 of L.I. 2204, Mr Faibille said, \u201clocal content is the quantum of percentage of locally produced materials, personnel, financing, goods and services rendered in the petroleum industry value chain and which can be measured in monetary terms.\u201d<\/p>\n

He expressed dissatisfaction about some companies not operating according to the law saying that \u201cregrettably, some companies operating in our upstream environment have sought to operate beneath the obligation to do local content as enshrined in the law.\u201d<\/p>\n

The Commission, Mr Faibille said, would strengthen its internal vigilance to bring the desired results of the law to the country.<\/p>\n

Similarly, he said, the Petroleum Commission would support companies and investors who show commitment to meeting their local content obligations.<\/p>\n

The Commission, he added, had developed a strategy paper as to how Ghana could ensure that seismic and other petroleum data were made available for the use of investors for enhanced exploration and production activities.<\/p>\n

Over the last ten years, he said, the upstream petroleum businesses had improved significantly since L.I. 2204 was passed, stating that , in 2021, contracts awarded to Indigenous Ghanaian Companies (IGCs) surged from approximately US$7 million in 2020 to approximately US$14 million.<\/p>\n

There was a further leap on this figure to approximately US$157 Million (72 contracts) in 2022 representing an over 1,000 per cent growth, Mr Faibille added.<\/p>\n

He said joint ventures also witnessed significant growth over the period by \u201cgrowing over 650 percent from approximately US$51 Million in 2020 to US$336 Million in 2022.\u201d<\/p>\n

Ghana, he noted, presently had six blocks that needed investments revealing that three, namely, the Offshore Cape Three Points South Block, the Shallow Water Cape Three Points Block and the South West Saltpond Block were available for investments by way of direct negotiations with the Minister for Energy.<\/p>\n

Western Regional Minister, Kwabena Okyere Darko-Mensah, called on all stakeholders to work with government to ensure that the local content policy and law was fully operational and adhered to.<\/p>\n

For More News And Analysis About Ghana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Ghana. The Chief Executive Officer of the Petroleum Commission (PC), Egbert Faibille, says the commission will not relent in its efforts to ensure full compliance with the country\u2019s local content laws. According to him, the Commission\u2019s insistence on local content, was provided for by law saying that \u201cpartial compliance is no compliance.\u201d He […]<\/p>\n","protected":false},"author":84,"featured_media":60528,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,7,12],"tags":[5092,5096,429],"class_list":["post-60529","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-head-lines","category-policy","tag-africa-press","tag-africa-press-ghana","tag-ghana"],"yoast_head":"\nWe\u2019ll ensure local content law compliance- PC - Ghana<\/title>\n<meta name=\"description\" content=\"The Chief Executive Officer of the Petroleum Commission (PC), Egbert Faibille, says the commission will not relent in ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/ghana\/all-news\/well-ensure-local-content-law-compliance-pc\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"We\u2019ll ensure local content law compliance- PC\" \/>\n<meta property=\"og:description\" content=\"The Chief Executive Officer of the Petroleum Commission (PC), Egbert Faibille, says the commission will not relent in ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/ghana\/all-news\/well-ensure-local-content-law-compliance-pc\" \/>\n<meta property=\"og:site_name\" content=\"Ghana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-24T17:38:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-24T17:40:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2023\/11\/sm_1700834703.656188.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"560\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/well-ensure-local-content-law-compliance-pc#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/well-ensure-local-content-law-compliance-pc\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"We\u2019ll ensure local content law compliance- PC\",\"datePublished\":\"2023-11-24T17:38:42+00:00\",\"dateModified\":\"2023-11-24T17:40:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/well-ensure-local-content-law-compliance-pc\"},\"wordCount\":493,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/well-ensure-local-content-law-compliance-pc#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2023\/11\/sm_1700834703.656188.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Ghana\",\"ghana\"],\"articleSection\":[\"all news\",\"head lines\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/ghana\/all-news\/well-ensure-local-content-law-compliance-pc#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/well-ensure-local-content-law-compliance-pc\",\"url\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/well-ensure-local-content-law-compliance-pc\",\"name\":\"We\u2019ll ensure local content law compliance- PC - 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