The Petroleum Commission has launched operational guidelines for the Local Content Fund to provide financial support to indigenous Ghanaian businesses and professionals in the upstream petroleum sector.

The guidelines were launched at the 2026 Local Content Conference and Exhibition in Takoradi on Tuesday, November 10, 2026. President John Dramani Mahama and the Minister for Energy, John Abdulai Jinapor, attended the event alongside government officials, industry players, international oil companies, local businesses and development partners.

The Fund, established under Section 64 of the Petroleum (Exploration and Production) Act, 2016 (Act 919), is expected to address financing challenges facing local companies and strengthen their capacity to compete across the petroleum value chain.

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It will support capacity building, skills development, technology transfer, innovation and the expansion of indigenous businesses.

Chief Executive Officer of the Petroleum Commission, Ms Emeafa Hardcastle, said developing local capacity requires significant initial investment but offers long-term benefits to the industry, including improved efficiency and cost savings.

The Commission also called on operators, contractors, service providers, financial institutions, industry associations and development partners to support the sustainability of the Fund.

It emphasised the importance of transparency, accountability and responsible management to ensure that the Fund achieves its objectives.

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The launch of the guidelines marks a step towards operationalising the Local Content Fund as a financing mechanism to strengthen Ghanaian participation in the country's upstream petroleum industry.

AS/MA

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