At the Ghana-Guyana Local Content and Capacity Building Conference; Gabby urges development of local expertise in oil and gas

The Chairman of the Ghana Chamber of Commerce Guyana, Gabby Asare Otchere-Darko, has emphasized the intrinsic connection between local expertise and effective local content policies.

He warned that without the involvement of capable local players, local content policies risk becoming hindrances rather than catalysts for economic growth in the hydrocarbon sector. “When lacking capacity, these policies become frustrating barriers to the core task of oil extraction,” he said.

Delivering an opening statement at the Ghana-Guyana Local Content and Capacity Building Conference in Georgetown, Guyana on Thursday, August 10, Mr Otchere-Darko underscored the urgency of cultivating local capabilities, especially as the global energy transition heightens the demand for expedited oil extraction.

The two-day conference, which was organized by the Ghana Chamber of Commerce Guyana, brought together consultants and service providers in the upstream petroleum sector from both countries with the aim of preparing Guyanese to benefit from their country’s oil boom.

Potentials

Emphasizing local content’s multifaceted importance, he termed it a fundamental human, moral, social, economic, developmental, and prosperity right, and highlighted its potential benefits for governments, citizens, and international oil companies (IOCs).

“Building capacity and local content in upstream oil and gas operations is perhaps the most important priority item for any oil-rich country that is seriously capturing and retaining locally as much as it possibly can of the value from its hydrocarbon resource,” he noted.
He was of the belief that local content is advantageous to all stakeholders, including governments, citizens, and international oil companies (IOCs).

Affirmative policy


Achieving effective local content, he said, requires affirmative policy action from the state while ensuring a balance between the interests of various stakeholders, including policymakers, regulators, local private sectors, communities, IOCs, and the national economy.

Conference significance 


Mr Otchere-Darko underlined the mutual willingness of Ghana and Guyana to collaborate and learn from one another, affirming that Ghana’s commitment to Guyana is rooted in genuine knowledge-sharing rather than exploitation.
He reiterated the joint goal of exploring mutual benefits, encouraging the exchange of knowledge, and fostering collaboration for the betterment of both nations.

In December, 2021, Ghana and Guyana formalized their cooperation with a signing ceremony that was graced by the presence of Vice President Dr. Bharrat Jagdeo of Guyana and Vice President Dr. Mahamudu Bawumia. 
 Mr Otchere-Darko stated that since that momentous occasion, numerous significant developments have unfolded, including the inauguration of the Ghana Chamber of Commerce Guyana in May, this year.

This unique chamber of commerce, he said, stands as the sole African representative in the entire Caribbean region and underscores sincere dedication to transforming the promises of the cooperation agreement into concrete actions, as the two nations strive to make a tangible impact rather than merely speaking words.

Guyana situation

The Chief Executive Officer (CEO) of the Local Content Secretariat in Guyana, Dr Martin Pertab, spoke on the Local Content Secretariat’s efforts to work with oil and gas contractors and operators to ensure Guyanese are prioritised. He highlighted that there has been increasing participation by locals in opportunities that are available in the oil and gas sector.

Training

The CEO of the Ghana Petroleum Commission, Egbert Faibille Jnr, urged the training of the young people to take advantage of opportunities in the oil and gas sector, especially in the technical field.