Local Content Must Be Inside Contracts
Centurion Law Group CEO NJ Ayuk played a pivotal role at Africa Oil & Power 2017 in Cape Town, speaking on the Policy & Law panel.
Ayuk stressed the importance of local content on the panel, and especially creating strong local contract provisions within specific contracts.
“What you need to do is create that opportunity, that enabling environment, that balance where the IOC also understands that, it is not right that you are going to have an investment of (several) billion dollars and you don’t have locals participating in the entire value chain,” Ayuk said.
“Where you get them is inside those contracts. Because they know, once it is in contract, it is going to be respected.”
Ayuk’s fellow panelists included Nicolas Bonnefoy, Deputy Head of Oil & Gas at Bowman; Lloyd Manokore, Partner of Manokore Attorneys; Lizel Oberholze, Director of Norton Rose Fulbright; Richard Moulet, Managing Partner of Sutter & Pearce; and Anuol Deng, Managing Partner of Awatkeer Law Chambers; and moderator Emre Üşenmez, Petroleum Economist and Lecturer in Oil & Gas Law at the University of Aberdeen.
Watch the panel video highlights below.