Petroleum Commission expresses worry over monopoly of contracts

Ghana’s upstream sector regulator has once again reiterated its commitment to ensure that International oil and gas companies operating in Ghana comply with the country’s local content law LI 2204.

“We are worried as a commission because our Local content law LI 2204, if look at section 1, makes it clear the object of the law, we want to develop the international competitiveness of Ghanaian businesses in the upstream space”

Speaking at the just ended Offshore Technology Conference in Houston in the USA at a stakeholders and investment forum, Chief Executive for the Petroleum Commission, Mr. Egbert Faibile Jnr also stated that the commission has observed a certain pattern of the same companies keeps winning contracts over and over creating monopoly.

He said his outfit as a regulator will continue to constantly engage the TEN Partner, Jubilee partners and ENI to allow other qualified local companies have entry.

The Ghanaian contingent has described the four days events in Houston Texas as a huge success
The Offshore Technology Conference (OTC) which is the world’s foremost event for the development of offshore resources in the fields of drilling, exploration, production, & environmental protection.

By Emmanuel Ohene-Gyan