On 28th Oct 2022, the Cote d’Ivoire minister of Mines, Oil and Energy. Mr Mamadou Sangafowa Coulibaly received at his office located in SCIAM Tower in Plateau, the association of local service companies operating in the Oil and Gas sector – GES-PETROGAS-CI. After a brief presentation of the association to the minister and the in-country capabilities and competencies, the minister exposed to the local companies the advantages of the new local content bill that will be acted in the coming months once. There are 3 categories under the bill
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- Category A reserves its works for Ivorian companies
- Category B opens up partnerships between foreign companies and local firms
- Category C provides full access to multinationals for projects requiring technical expertise only held by these stakeholders.
The minister reassured the GES-PETROGAS-CI that the application decree of the oil and gas local content law is expected to be out in Q4 2022. In the spirit of this bill, foreign firms are expected to promote research and development whilst gradually facilitating the transfer of technology to local businesses. The Minister highlighted that discovery of natural resources in many African countries had led to political issues and turmoil. However, Minister Coulibaly also exposed his plans to make the oil and gas development a success story in Ivory Coast. The country will continue to facilitate and ease business doing for investors by promoting favourable fiscal terms and put no restriction in funds repatriation.
Minister Mamadou Sangafowa Coulibaly highlighted that the contribution of the GES-PETROGAS-CI and the will be very important in the success of Cote d’Ivoire as an Oil and Gas producing country. Coming himself from the private sector he is open to push and promote all the private initiatives in the country.
