The purpose of these Regulations is to

(a) promote the maximisation of value-addition and job creation through the use of  local expertise, goods and services, businesses and financing in the petroleum  industry value chain and their retention in the country;

(b) develop local capacities in the petroleum industry value chain through education,  skills transfer and expertise development, transfer of technology and know-how  and active research and development programmes;

(c) achieve the minimum local employment level and in-country spend for the  provision of the goods and services in the petroleum industry value chain as specified in the First Schedule;

(d) increase the capability and international competitiveness of domestic businesses;

(e) create petroleum and related supportive industries that will sustain economic  development;

(f) achieve and maintain a degree of control for Ghanaians over development  initiatives for local stakeholders;

(g) provide for a robust and transparent monitoring and reporting system to ensure  delivery of local content policy objectives;

(h) provide for the submission of the local content plan and related sub-plans by  contractors, subcontractors, licensees and any other allied entity involved in the  petroleum industry including

(i) the provision of goods and services;

(ii) the transfer to the Corporation or the Commission and Ghanaians o f advanced technology and skills related to petroleum activities;

(iii) a recruitment and training programme; and

(i) Supervision, coordination, implementation and monitoring of local content.