Government says it is poised to ensure Ghana attains technical sufficiency in oil exploration.

Deputy Energy Minister, Andrew Egyapa Mercer, says this would require that the country optimises technology transfer as part of the local content agenda.

"Despite efforts from both public and private sector aimed at local content development and technology transfer in the petroleum upstream industry, there is still more to be done, given the changing dynamics within the petroleum space globally", Mr. Mercer noted as he address the 2021 Local Content Conference and Exhibition organised by the Petroleum Commission in Accra.

With a deadline set for 2050, the world is expected to witness a steady decline in funding and investment from the West in oil and gas projects as the energy transition progresses rapidly and drastic measures are introduced to compel its enforcement.

However, Mr. Mercer indicated that until that deadline, Ghana is committed to fully exploiting its petroleum resource in an environmentally responsible manner, thus the country must expedite the process of attaining the status of full technical self-sufficiency for exploration and production activities.

The Deputy Energy Minister also highlighted the need for public and private sector synergy towards technology transfer and local content development.

“Frequent interactions must be encouraged and opportunities for capacity building be identified as well as pursued vigorously”, he admonished.

The 2021 Local Content Conference and Exhibition by the Petroleum Commission which was held virtually was themed – “Optimising Technology Transfer in Ghana’s Upstream Petroleum Industry.”

The Petroleum Commission boss Egbert Faibille Jnr announced at the opening of the conference that it  would in January next year set up a Technology Transfer Unit as it works to boost indigenous capacity in the upstream petroleum industry.