The Minister of Energy and Green Transition, Dr John Jinapor, has had an engagement with the Ghana Upstream Petroleum Chamber to review the state of Ghana’s upstream petroleum sector since assuming office, outline the interventions Government has undertaken so far, and share our plans and vision for the sector.
During the engagement on Wednesday Augst 12, he stated that a key priority for government is to continue and deepen the reforms that have contributed to restoring confidence in Ghana’s upstream petroleum sector and creating a more attractive environment for investment.
At the same time, he said, reversing the decline in oil production is high on our agenda, alongside increasing gas production to meet growing domestic demand, particularly for power generation.
To achieve these objectives, Dr Jinapor said that the government is pursuing a number of policy, regulatory and infrastructure interventions.
The ongoing review of the upstream legal and regulatory framework seeks, among other things, to make the sector more competitive and attractive to investors, he said.
“Our objective is to maximise the value of the oil and gas produced in Ghana by processing and utilising more of our resources domestically.
“Increasing gas supply for domestic consumption, especially power generation, will be critical to improving energy security and reducing our dependence on imported natural gas and other energy products,” Dr Jinapor wrote on Facebook after the engagement.
He further said that the engagement also provided an opportunity to discuss important concerns raised by the Chamber.
“I greatly value this constructive engagement with the Ghana Upstream Petroleum Chamber.
“A strong partnership between Government and industry is essential to building a more competitive, predictable and sustainable petroleum sector,” he said.