With the launch of COVID-19 and the temporary repatriation of oil and gas workers, the local content of Equatorial Guinea has become a strategic opportunity to transform your oil and gas industry into an unprecedented source of goods, capital and labor.
Moreover, volatility — albeit increasing — has given new impetus to the implementation of global oil prices. By establishing local infrastructure and supply chains, companies can reduce costs by streamlining purchases, streamlining production, and reducing transportation and logistics costs. For adult producers such as infrastructure-dependent Equatorial Guinea, there are many opportunities to integrate resources with neighboring markets, establish regional value chains, and create large-scale economies. That said, the environment has been a complex balance between creating and maintaining the value of the environment by maintaining a relatively flexible and foreign-friendly environment. Behind the new ministerial decree, improved training initiative and commitment by the government to the national industry, Equatorial Guinea is using progressive environmental content policy and capacity building programs to strike a balance.
Policy on Play
The legal and regulatory regime that governs the extraction sector is an important tool for indigenous participation in the oil and gas industry. Simply put, environmental content in Equatorial Guinea is governed primarily by the country’s national content regulation and hydrocarbon law – in addition to a series of ministerial regulations, individual product sharing contracts and the local labor code – and the provision of procurement-related provisions and services, hiring qualified manpower; Skills and technology transfer and social infrastructure development. The closest to the framework is the announcement of the incoming ministers’ order 1/2020 last April, which stipulates that companies in the oil and gas sector will hire foreign workers for up to three years. Implemented by the Director General of National Content, the decree ensures that local manpower is mobilized and that companies are looking for long-term local replacements for foreign workers.
Equatorial Guinea is relatively flexible in its approach to negotiating with foreign companies, and the Ministry of Mines and Hydrocarbon (MHH) is not hesitant to cancel contracts with service providers if they fail to comply with the rules. A.D. Content Policy, MHH conducts regular audits to evaluate efforts made by operators, suppliers, contractors and subcontractors to implement capacity building and corporate social responsibility plans and national training programs. As MHH seeks to strengthen compliance with the rules, a sophisticated legal, regulatory and institutional framework to support its policies, with the authority to implement policies on the ground, and self-governing monitoring and evaluation mechanisms are still needed. The framework should also include quantitative measures to measure the performance of knowledge and skills transfer of international companies.
Reducing gaps in skills
Skills development and training is at the forefront of Equatorial Guinea’s local content agenda, and COVID-19 accelerates the demand for highly skilled manpower in the market. The rapid advancement of technologies and remote work arrangements initiated by the epidemic has disrupted traditional labor markets and the skills needed to compete in them, requiring skilled and skilled workers. Training Initiative in Equatorial Guinea The course is led by ITNHGE, a member of the Institute of Technology, which offers courses in Petroleum and Electrical Engineering, Mining Engineering and Mechanical Engineering. Central African Community. ITNHGE trains indigenous workers and equips them with the skills needed to perform highly skilled labor.
Skills and technology transfers have also been made through training partnerships and private sector companies through strategic partnerships in the sector. The National Association of Hydrocarbon Service Companies (NHESCO), for example, introduces and attracts foreign partners to Equatorial Guinea to become local shareholders in national companies. Facilitates partnerships between government, industry and civil society, enabling NAHSCO SMEs to provide support for skills development, consulting and business management. Through the National Content Development Fund, the government has also created training and capacity building programs for citizens and provided scholarships and programs for higher education studies.
ECP In collaboration with the Ministry of Mines and Hydro-Carbon, the African Energy Series – Equatorial Guinea 2021 Campaign – Report and Documentary – will be an important tool in exploring energy investment, one of Africa’s most advanced fuels. -Marketing. To participate in the upcoming Africa Energy series, please contact email@example.com and to promote or sponsor, please contact firstname.lastname@example.org.