Minister for Energy Dr. Matthew Opoku Prempeh has announced that US oil giant, ExxonMobil has begun engagement with the government in a bid to return to Ghana.
In May 2021, ExxonMobil announced to the Ghanaian government that it was exiting the country’s upstream petroleum sector where it has been conducting exploration after acquiring rights in 2018.
However, Dr. Opoku Prempeh said the two parties are making headway for a return.
“Exxon Mobil intends coming back to Ghana. Interestingly, we have already started talking because God didn’t put the oil and gas there for us not to utilise. If it means that we have to develop our skills and talent and do more carbon extraction, let us get on with it”, he disclosed this at the launch of the 9th edition of the Annual Local Content Conference and Exhibition by the Petroleum Commission.
The company’s investment was the first after a landmark ruling from the International Tribunal for the Law of the Sea (ITLOS) in favour of Ghana, following the maritime border dispute with Ivory Coast a year earlier.
Dr. Opoku Prempeh added “We have to be deliberate to train and train Ghanaians and Africans, in general, to participate in the petroleum sector.”
The Energy Minister also entreated the Petroleum Commission to monitor the training of indigenes within the space.
He also made a strong case for a deliberate effort to ensure efficient local content in upstream petroleum activities.
This year’s conference also marks the 10th year of the passage of the Petroleum (Local Content and Local Participation) Regulations, 2013 (L.I.2204).
The event is on the theme “10 Years of Local Content in Ghana’s Upstream Petroleum Industry: Achievements, Challenges and Prospects”, and is aimed at promoting local content and local participation in accordance with L.I. 2204.