It is imperative that a nation upon discovery of the resource puts the necessary measures in place to promulgate a judicious acquisition of optimum benefits from the resource. This is because Oil and Gas is a non-renewable natural resource while the industry is also often times saddled with a complexity of ensuing issues.
One such critical measure is the policy framework on local content and local participation. It has been labeled as the most reliable instrument to advance the stake of the people of the nation in the Oil and Gas industry in a sustainable manner.
This policy framework essentially seeks to carve a comprehensive course for Ghana in her quest to realize the maximum benefit from her Oil and Gas industry. In this regard, the Ministry of Energy with recourse to its mandate pooled all available resources and also tapped into the rich experience of other producer countries to develop this policy. Thankfully, Ghana discovered Oil and Gas at an opportune time that we have an enviable democracy, a promising economy which thrives on a stable political environment, good governance, a welcoming business climate and the rule of law. The combination of these conditions and a sound policy framework should provide a solid basis for prudent management of the oil and gas sector.
The government and people of Ghana by this policy framework seek to ensure capacity development in terms of employment of Ghanaians, use of Ghanaian goods and services, transfer of technology and know-how, indigenization of knowledge and ownership.
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