Members of the Ghana Upstream Petroleum Chamber have met Vice President Dr Mahamudu Bawumia to discuss the sector’s difficulties and how industry and the government might work together to address them.
The Chamber presented an overview of the oil and gas sector to the Vice President and his team, emphasising the problems that have resulted in the absence of any new petroleum agreements since 2017.
The CEO of the Chamber, David Ampofo, stated: “Peak oil production occurred in 2019; but since then, there has been a 32 percent decline. This requires more exploration and new discoveries if the decline is to be arrested”.
Dr Bawumia noted he was committed to deepening the collaboration between the government and industry and assured the Chamber that he was “ready to make Ghana a more attractive oil and gas destination.”
He added that he would “benchmark Ghana’s fiscal regime in relation to other attractive destinations such as Guyana, Namibia, and Côte D’Ivoire.”
The meeting allowed the Vice President to interact with the exploration and production firms, as well as the local and foreign service companies that comprise the sector, and gave a chance for the Vice President to listen to the industry.
Source: Energy Ghana