2019 Offshore Technology Confab Ends in Houston

The 2019 Offshore Technology Conference (OTC) has ended in Houston, Texas -US, with a call on international oil companies to assist indigenous Ghanaian companies to develop their full capabilities within the oil and gas industry.

Chief Executive Officer (CEO) of Petroleum Commission (PC), Mr. Egbert Faibille Jnr, who made this call, said capacity building would boost the ability of the local companies to grab emerging opportunities in the sector.

Opened last Monday, the four-day event brought together more than 6,000 global players to discuss new licensing and business opportunities as well as newly introduced technologies. The conference is in its 50th year.

The Ghanaian delegation was led by Minister of Energy, John Peter Amewu, and Mr Faibille Jnr took the opportunity to educate Ghanaians in the Diaspora about opportunities in the oil sector.

Aided by the Ghana Houston Chamber of Commerce, it also held business-to- business meetings with established Ghanaian SME'S to promote and develop local capability in the oil and gas sector.

Based on the success of such interactions, Mr Faibille Jnr expressing his impression of the event at the closing on Thursday said he was optimistic of the conference's progressive impact on Ghana's oil and gas sector.

He said the Ministry of Energy and the upstream petroleum regulator would not concede in ensuring compliance with policy regulatory framework of the Commission as enshrined in the various legislative instruments.

"With the implementation of L.I 2204, activities within the upstream space have been streamlined, yet the Petroleum Commission will not relent in its efforts to ensure that every company comes on board," Mr Faibille Jnr said.

From the estimation of Mr Amewu, the doors of the country were opened for investment opportunities in line with upcoming development of a petroleum hub in the Western Region of Ghana.

"With the soon to be developed petroleum hub in the western region of the country, it is evident that our dear nation is poised for investment opportunities" he said.

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