Government has announced its commitment to reducing carbon emissions and increasing reliance on cleaner fuels as well as renewable energy sources.
Dr. Matthew Opoku Prempeh, Minister for Energy, who revealed this at this year’s Local Content Conference and Exhibition held in Takoradi, said the global energy transition could generate some uncertainties for the country’s oil and gas industry since the country’s petroleum sector was an important driver of its economic development.
He said it could also pose a challenge to the local content development in the sector.
The programme allowed key stakeholders in the petroleum sector to take stock and develop appropriate strategies towards set goals and targets.
It was on the theme “Sustaining Local Content Development through enhanced exploration and production activity in the era of Energy transition.”
He mentioned that the country had put in place the requisite policies and programmes to maximise local participation in the industry.
He pointed out that Ghana’s 2020 National Energy Policy sought to critically promote the participation of local enterprises in the energy industry.
He added that the policy was also to promote the utilisation of local goods and services in the energy sector.
The Western Regional Minister, Kwabena Okyere Darko-Mensah, noted that local content policies had the potential to stimulate broad-based economic development.
“This is necessary to alleviate poverty, achieve prosperity and ensure sustainable economic and social outcomes,” he added.
He said the benefits of properly formulated and implemented local content policies would contribute to the stability of the business environment.
“It will also enhance peaceful co-existence between oil and gas entities and their host nations or communities,” he stated.