The Ivorian government, on Wednesday during a Council of Ministers chaired by President Alassane Ouattara, adopted a bill on local content in oil and gas activities.
This bill presented by the Minister of Oil, Energy and Renewable Energy, Abdourahmane Cissée” aims to set up a national oil and gas industrial fabric based on local businesses and personnel,” the Council of Ministers said in a press release.
The text requires holders of petroleum contracts to give priority to jobs to qualified personnel of Ivorian nationality, to provide training programs that enable this personnel to acquire the level of qualification required in order to access all levels of responsibility in the sector.
The same obligation is expected of the oil sector, oil and gas companies operating in Cote d’Ivoire, in all sectors of the value chain, from exploration to exploitation.
Investors must also give preference to Ivorian companies for subcontracting, service provision and goods supply activities. In addition, the bill directs them to exploit the financial and insurance services available in the country.
“This law will create jobs for our young people and promote the creation of SMEs and national champions in these sectors,” Mr. Cisse explained, emphasizing the classification of activities into the three following categories: Category A reserved for Ivorian companies, Category B for Ivorian companies and partnerships between foreign and Ivorian companies, andCategory C open to all companies.
In addition, these companies are subject to the obligation to promote research and development, while facilitating the transfer of technology to local businesses.
LS/fss/abj/APA