Western Regional Minister calls on Oil & Gas companies to spend 70% of CSR budget in Region

• Posted on November 28, 2023November 28, 2023
• by Nana Kwesi Coomson
• Comment

The Western Regional Minister, Dr Kwabena Okyere Darko also called on all oil and gas companies in Ghana to spend not less than 70% of their corporate social responsibility in the Western Region.

He says even though oil and gas are for national benefit the Western Region and communities in the catchment will suffer its adverse effects.

It is therefore fair that people of the Western Region demand that they proportionately benefit from oil and gas resources, the Minister remarked.

Dr Darko-Mensah says it is the desire of the government to see growth in the oil and gas sector in Ghana.

He says growth in the oil and gas sector will also constitute the growth of the Western Region and called for investment in the Western Region.

The Minister also noted that it is the vision of the region to become the model region of Ghana and also for Westerners to own productive assets in the oil and gas industry.

He made these remarks at the 2023 Local Content Conference and Exhibition organised by the Petroleum Commission under the theme, “10 Years of Local Content in Ghana’s Upstream Petroleum Industry, Achievement, Challenges and Prospects.”

He added that the Western region plans to set up a financial services hub which he called on the oil and gas companies to set up special seed funds to invest in these companies to alleviate poverty

Mr Egbert Faibille Jnr., Chief Executive Officer, of the Petroleum Commission, explained at the event that this year’s LCCE coincides with 10 years of coming into force of the Petroleum (Local Content and Local Participation) Regulations, 2013 LI 2204.

He said from that moment in 2013, many institutions, organisations and individuals have contributed in various towards the success we have seen in the sector.

Mr Fabille said the coming into force of the LI 2204 has also brought tremendous opportunities for Ghanaian businesses and job opportunities for qualified Ghanaians.

He said notwithstanding the success, they have also had challenges in implementing the LI 2204.

Mr Fabille at the event said the commission will support companies who show commitment to meeting their local content obligations.

The Minister of Energy Dr Mathew Opoku also stressed the importance of training and certifying Ghanaian professionals to meet international standards.

According to him, training Ghanaian professionals on an international scale is a way to improve various industries, boost the economy and promote local content.

-Skyy Power