The 2025 Local Content Conference and Exhibition opened in Takoradi with a call from government and industry leaders for renewed investment, innovation, and stronger local participation to restore growth in Ghana’s oil and gas sector.
Welcoming delegates, the Ag. Chief Executive Officer of the Petroleum Commission, Ms. Emeafa Hardcastle, described the gathering as “a defining moment for
Ghana’s energy future.” She explained that the theme for this year’s event, Revitalising Ghana’s Petroleum Exploration and Production Sector: Driving Innovation and Redefining Local Content for a Competitive Energy Economy, captures government’s efforts to rebuild investor confidence.
According to Ms. Hardcastle, expressions of interests have already been received from three super majors and one large independent company. “Negotiations are far advanced with Shell for a new petroleum agreement over the South Deep-Water Block, while Jubilee partners Tullow and Kosmos have committed two billion dollars in new investment. Eni has also signed a memorandum of intent to invest one and a half billion dollars in new wells and subsea facilities,” she said.
She further called for greater collaboration and innovation across the industry calling hands to be on deck to meet the industry’s development goals while
honouring our climate commitments.
The Minister for Energy and Green Transition, Hon. Dr. John Abdulai Jinapor, Guest of Honour at the event commended the Commission for hosting what he called “a timely and strategic platform for renewal. “This conference could not have come at a better time,” he said. “Ghana’s petroleum industry stands at a crossroads. Once seen as a driver of economic transformation, the sector now faces challenges that threaten its sustainability and long-term value.”
Dr. Jinapor noted that crude oil production had dropped by more than thirty percent over the years, from 71 million barrels in 2019 to 48 million barrels in “This is not just a fall in revenue but a shrinking of opportunities for Ghanaian companies who form the backbone of our local industry,” he said.
He pointed to regulatory inefficiencies, inconsistent policies, and a heavy tax regime as key barriers to investment and announced the creation of a Legislative Review Committee to examine Ghana’s petroleum laws and fiscal framework. The committee is expected to present its report by the end of November.
“Our fiscal regime must be competitive and forward-looking,” the Minister said. “It should reward investors who explore in frontier areas while ensuring that the nation gets a fair and sustainable share of benefits.” Dr. Jinapor reaffirmed President Mahama’s vision of a petroleum sector that creates jobs, builds capacity, and supports Ghana’s energy transition. “Our resources must generate value for our people. We must use them not just as revenue sources but as instruments for transformation,” he said.
Director, Economics and Local Content at the Petroleum Commission, Mr. Kwaku Boateng in a presentation on the topic “Driving Growth in E&P and Redefining Local Content for a Competitive Energy Economy” said Ghana must adopt a more agile and innovative strategies to create a competitive and resilient energy economy through forward-looking policies and strategic partnerships. This, he argued is a sustainable way of deepening local participation in the upstream petroleum sector.
GNPC CEO, Kwame Ntow Amoah presented preparations by GNPC to open up the Voltaian Basin as a new frontier for petroleum exploration. As well as plans by GNPC to assume operatorship role within a short period of time. Ghana Gas also outlined the company’s plans to revitalise the Gas sector and enhance gas offtake opportunities.
International delegates from Nigeria Content Board, Government of Mozambique and Gambia also delivered remarks on the need to enhance local content at the regional level and promote corporation among African countries in exchange of information and technical experiences.
The 2025 Local Content Conference and Exhibition continues for the next two days with panel sessions and exhibitions showcasing new technologies and local innovations across the energy value chain.
2025 LCCE Opens in Takoradi with a call for Renewed Efforts to Revitalise the Upstream Petroleum Industry
