PETROLEUM (LOCAL CONTENT AND LOCAL PARTICIPATION IN PETROLEUM ACTIVITIES) REGULATIONS, 2013 (LI 2204)
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The Ministry of Energy and Petroleum wishes to inform the general public that today, Tuesday November 19, 2013 Parliament successfully passed the PETROLEUM (LOCAL CONTENT AND LOCAL PARTICIPATION IN PETROLEUM ACTIVITIES) REGULATIONS, 2013 (LI 2204).
The purpose of these Regulations is to, among other things provide for ?
- promotion of maximization of value-addition and job creation, through the use of local expertise, goods and services, businesses and financing in the petroleum industry value chain and the retention of benefits within Ghana;
- development of local capability in all aspects of the petroleum value chain through education, skills and expertise development, transfer of technology and know-how and an active research and development programme;
- achievement of the minimum local employment and in-country spend in the petroleum industry value chain within a decade of the start of every petroleum license or contract, in the provision of such supplies and services specified in these Regulations;
- increased capability and international competitiveness of domestic businesses and industrial sectors;
- creation of petroleum and related supportive industries that will sustain economic development;
- achievement and maintenance of a degree of influence or control by Ghanaians over development initiatives for local stakeholders; and
- A rigorous and transparent monitoring and reporting system to ensure delivery of Ghanaian content policy objectives.
The Ministry wishes to thank, Parliament, Civil Society, the Media, International Oil Companies and all Stakeholders for their invaluable contributions towards the passage of this critical piece of legislation that will ensure that Ghanaians play key roles in our nascent oil industry. The Ministry also pledges to work closely with the Petroleum Commission to ensure that this law is effectively implemented.
SIGNED:
EDWARD A. BAWA
HEAD OF COMMUNICATIONS
