Stringent standards must be enforced in oil & gas sector — Akufo-Addo

For companies to fully participate in the country’s oil and gas sector, they must be aware that the industry has stringent standards which govern it and must be ready to adhere to them accordingly, President Akufo-Addo has warned.

“The oil and gas industry requires the enforcement of stringent international standards in all aspects of its value chain. This therefore demands that any person or company aspiring to participate in the industry must be cognisant of these requirements,” he said at the launch of the first oil and gas licencing round in Accra.

Government, he said, will continue to offer training for individuals and companies to build their capacities to enable them participate fully in the oil and gas sector.

“Government, on its part, continues to prioritise the development of skills of our youth and the Ghanaian entrepreneur through the AOGC programme, so they can meet international standards and thereby become more competitive in the oil and gas industry,” he said.

First oil and gas licencing round

Expressions of Interest from International Oil Companies (IOC) are expected to be submitted by end of November this year, while pre-qualification of local partnering companies and IOC’s will be done in December.

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The process will continue from January next year, and the successful bidders are expected to be selected by August 2019.

Energy Minister John Peter Amewu warned that companies should desist from submitting fraudulent documents in an attempt to win contracts. Any company that is found to have done so in the process, he said, will be automatically disqualified.

“Companies that submit false information or attempt to manipulate the process to their advantage will be disqualified,” he said.

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