Energy Minister opens 2023 LCCE exhibition in Takoradi, calls for the promotion of indigenous capabilities

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

Speaking at a press briefing before the official opening of the exhibition centre, the Minister said Ghana has covered a long and successful road concerning LCCE.

He said in the first oil field development before 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 the value of contracts have 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 the government and the Jubilee Partners resulted in an addition of 30,000 barrels of oil per day to our production profile. This is aside from 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 officially open the conference on Wednesday, November 22, 2023, where discussions are expected to focus on the development of local content.