The CEO of the Ghana Upstream Petroleum Chamber, David Ampofo, has said local service companies in the upstream oil and gas industry, require all the support they can get if the country is to fully realise the benefits of its oil and gas resources. Mr Ampofo made these remarks following a meeting he held with some of the leading local service companies who have made major investments in the industry over the last decade and more recently. They include Zeal Environmental Services, Baj Freight and Logistics, Rig World, PHI Aviation, Amaja Oilfield Services, Conship and Bayfield Services.
The discussion centred around the challenges they face and the opportunities available to them. Many of these companies have made investments that they are keen to recoup and they called for more favourable policies to enable them realise this objective as well as increased business opportunities Some specific areas of concern highlighted included the limitations of LI 2204 which covers Local Content and Participation.
Mr Ampofo urged them to consider increasing their participation in the chamber as it was a solid platform for industry advocacy. “As a collective you will have a much bigger voice”, he added. He said because of the highlighting of the need for foreign investors over the years, many people tend to forget that there is such a thing as local investors, who are crucial to the country’s development. Also at the meeting was the Vice President and Country Manager of Kosmos Energy, Mr Joe Mensah who is also the Chairman of the Chamber and Dr Kwame Boakye-Agyei, Operations Advisor at the Chamber.
Mr Joe Mensah reminded them that the long-term sustainability of the industry, was dependent on them to a large extent and he called on them to join the chamber.