Eni Ghana pledges more opportunities for local firms in upstream sector

Eni Ghana's Managing Director, Mr. Federico Ricco, has emphasized the company's dedication to fostering local content development and creating more opportunities for local firms in Ghana's upstream petroleum industry. During the 2026 Local Content Conference and Exhibition in Takoradi, Mr. Ricco highlighted how Eni's experience with the Offshore Cape Three Points (OCTP) project demonstrated the importance of merging international investment with a strong commitment to developing local capabilities.

He spoke at the event themed "Enriching Local Content for Sustainable Growth: Building a Resilient Upstream Sector through Reforms and Partnerships to Spur Competitiveness and Investment." Since the inception of the Sankofa field, Eni and its partners have invested significantly in infrastructure, production facilities, skills development, technology transfer, and the enhancement of the local supply chain.

These investments have resulted in approximately 90% of Eni's workforce being composed of Ghanaians, with a considerable portion of its operations executed by local companies. Mr. Ricco emphasized that local content is not merely a regulatory obligation but a crucial component of Eni's approach to project development and value creation.

He noted that these efforts have transformed investments into opportunities, opportunities into capabilities, and capabilities into lasting value for the industry. Looking ahead, Eni aims to broaden the involvement of Ghanaian companies in the planning, execution, and management of major upstream projects. Mr. Ricco also identified opportunities for Ghanaian businesses to expand their reach beyond the local market to become regional service providers.

As West Africa prepares for substantial upstream investments in the coming years, Ghanaian companies can contribute to projects across the wider West African energy sector, bolstering their capabilities and competitiveness. The Managing Director acknowledged the government's, sector ministry's, and Petroleum Commission's ongoing efforts to enhance the upstream sector's competitiveness and attract new investments.

He expressed appreciation for industry engagement and initiatives aimed at fostering a more attractive and predictable investment climate, hoping these will lead to concrete agreements and new projects reaching Final Investment Decision (FID). Mr. Ricco further revealed that additional resources have already been identified through Eni's exploration activities, which will be developed and eventually produced in collaboration with the government and partners.

He stressed that the exploration of new blocks is essential to secure resources for decades of power generation while maintaining a pipeline of new development projects. Eni Ghana reiterated its commitment to collaborating with the government, the Petroleum Commission, its partners, and the local business community to transform these opportunities into tangible outcomes for Ghana's economy and local industry.