In a bid to implement local content policies in it's nation, Ghana has signed a Memorandum of Understanding with the Nigerian Content Development and Monitoring Board (NCDMB), to understudy it's strategies and policies with the aim of reinventing them in Ghana.
The signing of the MoU took place at the 2024 Annual Local Content Conference and Exhibition held at Takoradi, Ghana.
The Memorandum of Understanding signed between the two countries is expected to last for three consecutive years and it is anchored on building partnership through information sharing and transfer of skills of mutual interest and benefits amongst them.
According to the statement, the NCDMB will provide guidance in the areas of knowledge exchange, laws, frameworks, procedures for baseline study, data collection on capacities that exist in Ghana and design of strategic plan for local content implementation in Ghana.
As stated in the MoU, the agreement will also provide opportunity for global experience, collaboration, and facilitate the advancement of knowledge, leading to local content development in the upstream petroleum sector for both countries.
The statement read thus : "In addition, NCDMB will offer technical support in the development of the framework in the formulation of regulations and policies for PCG Local Content laws".
“On NCDMB’s side, the MoU was signed by the Executive Secretary, Felix Ogbe, represented by Director of Monitoring and Evaluation, Mr Abdulmalik Halilu, and the Director of Legal Services, Mr Naboth Onyesoh, while the Executive Secretary/Chief Executive Officer of Petroleum Commission, Ghana, Mr Egbert Fabille, and the acting General Counsel, Nana Akua Agyei, signed on behalf of their organisation".
The NCDMB boss further urged African oil and gas service companies to collaborate and partner among themselves and leverage their unique capabilities over others.
This agreement according to him, would grow African local content sustainably and help meet the aspirations of the African Continental Free Trade Area.
He expressed satisfaction at the collaborative spirit displayed by African countries, noting that “this event is a testament to our unwavering commitment to fostering strategic partnerships and driving sustainable growth within our sector.”
While speaking on the theme of the conference tagged: "Attracting E&P Investments to Boost Local Content: New Pathways’, the executive secretary pointed out the necessity for innovative mechanisms and collaborative efforts to unlock Africa’s hydrocarbon resources, estimated at over 125 billion barrels, accounting for about 10 per cent of global reserves.
