Nigeria’s Content Development and Monitoring Board on Wednesday signed a Memorandum of Understanding with the Ghana Petroleum Commission to develop and deepen local content regulation in Ghana’s upstream petroleum sector.
The signing ceremony was held in conjunction with the 2024 Annual Local Content Conference and Exhibition in Takoradi, Ghana.
According to the statement, the MoU will be valid for three years and is centered around the desire to build synergies through information sharing and skill transfer leading to mutual benefits and benefits.
Under this MoU, the NCDMB will provide strategic advice to PCG in areas such as legislation, frameworks, knowledge exchange, baseline survey procedures, data collection on existing capacities in Ghana, and the design of a strategic plan for local content implementation in Ghana. and provide guidance. Capacity development initiatives.
The MoU is also stated to foster collaboration, provide opportunities for global experience, foster the advancement of knowledge and lead to the development of local content in the upstream petroleum sector.
“Additionally, NCDMB will provide technical support in the development of the framework in regulatory and policy formulation of the PCG Local Content Act.
“On the NCDMB side, the memorandum was represented by the Director General, Mr. Felix Ogbe, the Director of Monitoring and Evaluation, Mr. Abdulmalik Khalil, the Director of Legal Affairs, Mr. Nabos Onyiso, and signed by the Director General and Chief Executive Officer, Petroleum Sector. The statement was signed on behalf of the organization by Mr. Egbert Fabile of the Ghana Commission and Nana Akua Agyei, Acting General Counsel.”The statement read in part.
The report notes that the NCDMB entered into a similar agreement in February 2022 with the Technical Secretary of Senegal’s National Content Monitoring Board, with the aim of coordinating and overseeing the development and implementation of a local content strategy in Senegal’s oil and gas sector. I remembered that.
Speaking ahead of a conference in Ghana, the NCDMB chief urged African oil and gas service companies to collaborate with each other and leverage their unique capabilities.
He said this approach would help sustainably grow Africa’s local content and meet the aspirations of the African Continental Free Trade Area.
He expressed delight at the spirit of cooperation shown by African countries, saying: “This event is a testament to our unwavering commitment to fostering strategic partnerships and driving sustainable growth within our sectors.” said.
Commenting on the conference theme, “Attracting E&P Investment to Promote Local Content: New Pathways,” the Director-General offered innovative solutions to exploit Africa’s hydrocarbon resources estimated at more than 125 billion barrels. He emphasized the need for a proactive approach and collaborative efforts. Approximately 10% of the world’s reserves.
He reiterated NCDMB’s role as a business enabler, supporting the development of efficient indigenous supply chains and providing competitive and quality services in the oil and gas industry.
Reflecting on NCDMB’s achievements, Mr. Ogbe noted that progress in local content development has increased from less than 5 percent in 2010 to 54 percent in 2023, and that growth is driven by the strong NOGICD Act, strategies by the Board. He said that this is due to the implementation and cooperation of the industry. Person concerned.
The NCDMB was established in 2010 by the Nigeria Oil and Gas Industry Content Development Act and is mandated to monitor, guide, develop and promote local content practices in the oil and gas sector and linkage sector in Nigeria.
Meanwhile, the PCG was established by the Petroleum Commission Act, 2011 (Act 821) to regulate and manage the utilization of petroleum resources and coordinate policies in the upstream petroleum sector under the laws of the Republic of Ghana .
