Petroleum Commission CEO pushes for increased investment in upstream sector

The Chief Executive Officer of the Petroleum Commission, Emeafa Hardcastle, has called for increased investment in Ghana’s upstream petroleum sector, emphasising the need for stronger local content development and strategic partnerships to improve the industry's competitiveness.

Speaking at the 2026 Local Content Conference and Exhibition in Takoradi on Tuesday, November 10, 2026, she said Ghana must move beyond encouraging local participation and focus on developing indigenous companies capable of competing in regional and international markets.

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She explained that local content should not be viewed merely as a regulatory requirement but also as a strategic tool for attracting investment and strengthening the country's petroleum industry.

“Local content must go beyond meeting regulatory requirements. It should serve as a strategic tool to attract investment and strengthen Ghana’s petroleum industry,” she said.

The conference, held under the theme, “Enriching Local Content for Sustainable Growth: Building a Resilient Upstream Sector through Reforms and Partnerships to Spur Competitiveness and Investment,” provided a platform for industry stakeholders to discuss reforms and partnerships to promote growth and competitiveness in Ghana’s upstream petroleum sector.

Hardcastle noted that Ghana had made progress in local content development since introducing its framework more than 13 years ago.

She said several Ghanaian companies had developed the capacity to provide specialised services that were previously dominated by foreign firms.

These include drilling fluids, specialty chemicals, pipe coating, fabrication, cementing and subsea equipment manufacturing.

“We have seen indigenous companies develop the capacity to provide services in areas that were previously dominated by foreign firms. This is an important step in building a stronger local industry,” she stated.

She added that the Petroleum Commission was stepping up efforts to strengthen local capacity through supplier development, workforce training, technology transfer and improved regulatory oversight.

Hardcastle further stressed the importance of a predictable business environment, access to financing and stronger collaboration among government, industry players and academic institutions to attract investment and support the sector's growth.

ANAS/MA

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