A fully-owned Ghanaian Fabrication, Hydraulics and General Engineering Services Company, Harlequin Oil and GAS has been adjudged “Local Content Achievement Company of the Year 2020” by The Oil and Gas Year (TOGY), the most prestigious oil & gas journal with global footprints.
The award is in recognition of the importance of the recent acquisition of the Harlequin Group by a group of local entrepreneurs in 2018.
The acquisition made the Harlequin Group, an already prominent player in the upstream oil and gas service sector, eligible for certification by the Petroleum Commission (PC) as a fully indigenous Ghanaian company in 2019.
This was contained in a news release issued by the company in Takoradi.
The Co-CEO for Joint Ventures (JV) and Strategic Alliances, Harlequin Oil and Gas Limited, Kofi Oduro Mensah, said: “we are highly appreciative that a global industry journal has recognised what we are doing at Harlequin to further develop Ghana’s fledgling upstream oil & gas space.
We dedicate this award and associated recognition to each and every one of our hardworking employees who relentlessly pursue the highest level of perfection in our day-to-day operations.”
He commended the Petroleum Commission for creating an environment in which indigenous businesses are able to gain a stronger foothold in the industry.
“This will provide the impetus for for more indigenous entities to up their game to impact the sector.”
Mr Oduro Mensah however encouraged local businesses to continuously develop local expertise in line with the local content law.
LOCAL CONTENT LAW
He recalled the introduction of the local content law, LI 2204, in 2013 during which services such as catering and manpower supply were reserved for fully indigenous companies and said, “this trend is now evolving with local companies beginning to offer technical services to International Oil Companies and International Service Companies alike”.
The Harlequin Co-CEO was hopeful of seeing the minimum participation percentage requirements for local participation in Joint Ventures increased to 20% in the amendment to the Local Content Regulation LI 2204 slated to be introduced this year.
“With a higher equity stake, indigenous companies could ensure that these JVs are adding value to the country, as opposed to only existing as JVs on paper,” he opined.
FUTURE OF GHANA’S UPSTREAM SECTOR
For his part, the Co-CEO for Projects, Commercial and Corporate Strategy, Frederick Hesse-Tetteh shared his excitement for the future of Ghana’s upstream oil and gas industry with reference to the various upcoming projects within the sector.
“We are excited about the future. With the Springfield and Aker Energy findings, there seems to be a lot of upcoming activities.
In the next two or three years, we expect to see a huge boom in full field development and oil production, with additional assets moored offshore including FPSOs and rigs which shall provide opportunities for local business,” he said.
ROLE OF HARLEQUIN
On Harlequin’s offerings and what services they can offer within the upstream sector, Mr. Hesse-Tetteh said: “our major services and flagship projects are the turnkey fabrication of subsea equipment, including suction piles, manifolds, steel bend restrictors, holdback anchors, and mud mats.”
Mr Hesse-Tetteh was optimistic about the future of Harlequin and said in the next decade the company plans to develop its 50-acre facility into an oil services hub providing a host of engineering services to the upstream oil and gas value chain and plans are in place to increase the company’s overall footprint in the West African Sub Region.
“We hope to make a positive impact on the industry by providing outstanding, quality services and by continuously evolving our service offering to meet client demands. In a decade, we want to have proven that local African industry players have what it takes to get the job done too,” the Co-CEO said.
Story filed by Desmond Cudjoe, Takoradi.