Energy Minister Opens 2023 LCCE Exhibition in Takoradi | General News

Energy Minister, Dr. Matthew Opoku Prempeh on Tuesday, 21st November, 2023 opened the exhibition component of the 2023 Upstream Local Content Conference and Exhibition in Takoradi.

Speaking at a press briefing before the formal opening of the exhibition centre, the Minister said, over the past 10 years, Ghana has covered a long and successful road.

He said in the first oil field development prior to the passage of the Local Content Regulations, only 6.5% of contracts were awarded to the Ghanaian companies.

However, a decade after the passage of the regulations, about 20% of value of contracts has been awarded to Ghanaian companies.

“At each conference and exhibition, we exchange views on the work done over the past year. I remember talking about the need for reserve replacement at last year’s exhibition as a means to sustain local content development”, he said.

He continued; “I am glad that the concerted efforts of Government and the Jubilee Partners resulted in addition of 30,000 barrels of oil per day to our production profile. This is aside the Eban and Akoma discoveries. These have also contributed a lot to the country’s gas potential with the increase in the proven gas reserves.”

The Minister will open the conference formally on Wednesday, 22nd November, 2023 where discussions are expected to focus on local content development.