Ghanaian Companies Grab $1Billion Worth of Contracts
Available data from Ghana’s Petroleum Commission, the regulatory agency, shows that the oil and gas sector had provided direct high quality jobs for more than 5,000 Ghanaians as at third quarter 2015.
“The data further shows that between 2010 and third quarter 2015, the value of contracts for services, awarded to Ghanaians amounted to over $1 billion (out of a total of $6.3 billion)”, according to Alex Mould, acting Chief Executive of the state owned firm, Ghana National Petroleum Corporation GNPC.
“GNPC’s ultimate aim is to get Ghanaians to own a part of the expanding oil and gas industry and domesticate a significant amount of the revenue generated by the sector”, Mr. Mould explained at a lecture: Creating Shared Value, which he gave at the 85th anniversary dinner of the Accra Academy.
“When the oil and gas industry is successful in promoting local content and local participation, the industry also benefits from reduced costs, reduced taxes and import logistics, and from being closer to our suppliers”, Mould explained. “This is a true win-win scenario and a clear example of creating shared value”.
Mould said that the GNPC, through its partnership with international oil companies operating oilfields in Ghana, has used commercial rationale to exact more value from its partners in the area of local content.“So you have Ghanaian companies like Seaweld, Belmet, Harlequin, and Orsam among others, that are able to do fabrication of critical parts of offshore infrastructure. These Ghanaian companies supply our industry Module Stools, Jumpers, Suction Piles, Sleepers, Risers, Manifolds, and Mud Mats. And you have Zeal Environmental, Zoil, and OMNI Energy handling the industry’s waste management. By giving these Ghanaian companies the opportunity and supporting them, the industry gains long term as the companies develop. And by this, we will be creating shared value”.