The Petroleum (Local Content & Local Participation) Regulations, 2013 (L.I. 2204) passed by the Ghanaian Parliament on November 20, 2013, has received broad endorsement from many International Oil Companies (IOCs) and indigenous Ghanaian companies as �representing not only the best chance of ensuring increasing Ghanaian participation in the oil and gas sector but also presenting perhaps more importantly, the country�s best hope of effectively integrating the sector into the rest of the national economy�.