2019 OTC ends with industry players optimistic of better outlook

2019 OTC ends with industry players optimistic of better outlook
Source: Ghana | JoyBusiness | JAD
Date: 14-05-2019 Time: 03:05:06:pm

This year’s edition of the Offshore Technology Conference which took place in Houston Texas has ended successfully with a call on international oil companies and Joint Venture companies to help build and develop indigenous Ghanaian companies to their full capabilities within the oil and gas industry. 

In the last four days, global leaders within the upstream sector, industry players and stakeholders deliberated on effective and sustainable ways to promote local content and local participation.

On the part of the Ministry and the upstream petroleum regulator, the Minister, Board and Management continue to assure that no stone will be left unturned in ensuring that stakeholders are compliant with policy regulatory framework of the Commission as enshrined in the various legislative instruments.

“With the implementation of L.I 2204, activities within the upstream space has been streamlined, yet the Petroleum Commission will not relent in its efforts to ensure that every company comes on board” CEO of the Commission, Egbert Faibille Jnr. stressed.

“With the soon to be developed Petroleum hub in the western region of the country, it is evident that our dear nation is poised for investment opportunities” remarked Minister of Energy, John Peter Amewu.

Next year, it is believed that operations of Small and Medium Scale Enterprises (SME’s) registered with the Commission would have recorded significant strides as they position themselves strategically to hit good deals and JV partnerships.

With the drive for more people in the diaspora to come and do businesses in Ghana, many are of the view that Ghana’s upstream petroleum sector will be an investment destination

” Our country is open for various business opportunities especially within the upstream sector” said Ghana’s Ambassador to the United States of America, Dr. Barfour Adjei Barwuah

With many take home notes from the 4-day deliberations and high-level powered discussions, many say the outlook of the industry looks positive.