Oil and Gas players, regulator hold maiden CEOs forum in Ada

BY: Moses Dotsey Aklorbortu
Mr. Nuetey Adzeman, Executive Secretary of the Ghana Oil and Gas Service Providers Association (GOGSPA)
Mr. Nuetey Adzeman, Executive Secretary of the Ghana Oil and Gas Service Providers Association (GOGSPA)

The Executive Secretary of the Ghana Oil and Gas Service Providers Association (GOGSPA), Mr. Nuetey Adzeman has said that the country’s drive towards localization of the oil industry is depended on constant interactions among indigenous companies, other industry giants and regulator.

He said there is no doubt that the oil and gas industry is a global playing field and to give meaning to the country’s local content and local participation drive, indigenous companies need first to build strong synergies and mutual trust.

Mr. Adzeman said to drive this agenda and ensure sustained collaboration so as to play lead role in the industry, GOGSPA as the mother body of the service industry in the country in collaboration with the Petroleum Commission has decided to organize the first indigenous oil and gas chief executive’s forum.

The forum, he said, will discuss the industry and the way forward to let Ghanaian companies within the space approach the industry hand-in-hand to take advantage of all benefits.

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Organised on the theme “Encounter with the Regulator, Empowering Local Content in the country’s oil and gas industry”, the Oil and Gas CEO’s forum is expected to provide a one stop shop for forthright discussions and to bring captains of the industry and the Petroleum Commission face-to-face.

This program again aims at bridging the gap between the Petroleum Commission and service providers, including the Ghana Revenue Authority, fabrication companies, insurance outfits and banking institutions by creating the platform for frank discussions of critical matters since the tasks ahead require all hands on deck to ensure the industry in Ghana works.

“As a body, we promote the interests and integrity of oil and gas service providers in the country, to ensure that its members carry out their activities to the highest professional standards achievable,” said Mr. Adzeman.

The two-day forum which starts on Thursday, he said, is also expected to create an avenue for fostering greater business relations among industry players and the commission and sharing of ideas on policies and guidelines, as well as focus on issues relating to compliance localization and succession plans in the upstream industry.

The stakeholders at the forum are expected to look at the unbundling of contracts since the upstream petroleum industry is known for big pacts and fronting, invoicing and payments to update players on current trends.

The executive secretary said the capacity development of the indigenous companies is one of the new focuses if the country really wants to fully engage at the upstream sector, and this requires conscious efforts in capacity building.

He said much the awaited accelerated oil and gas capacity program (AOGC) would be looked into with a view to exploring the benefits and to revisit the issues of the LI2204, joint ventures and the challenges.