The move would enable the Ghanaian companies to engage foreign firms seeking to do business in the oil and gas sector, to form the needed linkages that would allow them to fully participate in the local oil market.

He was speaking at a breakfast meeting held to herald the official opening of the Offshore North Sea Conference and Exhibition in Stavanger, Norway.Deputy Energy Minister Joseph Cudjoe, Dr Kofi Kodua Sarpong, Chief Executive Officer (CEO), Ghana National Petroleum Corporation (GNPC), Ms. Alice Torkonoo, General Manger of the Ghana Ports and harbours Authority and Mr. Lawrence Apaale, Chief Director of the Ministry of Energy and petroleum are attending the conference together with representatives from over 40 Ghanaian companies.

Mr. Faibille Jr. made reference to the country’s local content regulation and said any foreign contractor or company wanting to do business in Ghana’s upstream sector, had to incorporate a joint venture with a Ghanaian company and should afford that local company, at least 10 per cent equity of the business operation.

It was on the back of this “that we seek to escalate and indeed drill down and ensure that Ghanaian companies are better positioned so that it becomes a win-win situation and the investors make maximum profit and the indigenous Ghanaian companies also make maximum profit”.  

He encouraged the trade delegation to take advantage of the opportunity to build the needed synergies to attract more investment into Ghana’s upstream sector.“At the Petroleum Commission we have been inundated with too many calls, too many requests, and indeed too many complaints about lack of contracts in the upstream sector.

What we seek to do with this trade mission is to bring Ghanaian companies to such platforms and at least, hold your hands and introduce you to companies that matter, companies that are looking for business in Ghana.”

He added “this is not a joy ride, this is a business trip and so our expectation is that before we go back, each and every one of you would have gotten business because contracts and sub contracts will be awarded and it is on the back of it that you are all here.

So go to the companies, speak to them, find pairs and companies that operate in your sphere of business and build the needed linkages.”Mr Faibille said the Norwegian Aker Energy was about starting operation in Ghana and the decision to organised the trade mission on the back of the ongoing ONS conference and exhibition, was to provide a bigger platform for the Ghanaian firms to establish business arrangements and linkages that would enable them to become well-positioned to partner Aker and other Norwegian companies to strengthen their operations.

The meeting was also addressed by Mr Jan Helge Skoken, Country Manager of Aker Energy and Dr Gulbrand Wangen, Director of Africa Mid stream, Norwegian Energy Partners, and the pair, urged the Ghanaian companies to brace themselves for the opportunity.

They also asked that the GNPC and the Commission should sustain the effort at deepening cooperation between Ghana and Norway.  Earlier, Crown Prince Haakon of the Kingdom of Norway, and other high ranking Norwegian government officials had attended the official opening of the 2018 ONS, which is focussing on “big energy picture”.

Mr Patrick Pouyanné, Chairman and CEO of Total and Lise Kingo, CEO and Executive Director of UN Global Compact, were on hand, to share their thoughts on the current energy perspectives.

Over 1,000 delegates are attending the ONS conference on the theme: “Innovate” to discuss key trends driving the oil market at present and potential game changers of the future energy landscape.The expectation is that Ghanaian businesses would attract foreign investments, network and benefit from technology and skills transfer.

By Lydia Kukua Asamoah, GNA’s Special Correspondent, Stavanger, Norway