The new administration has clearly stated that Ghana’s upstream sector is open for business again. There are significant investment opportunities both offshore and onshore, and the industry is ready for growth. Both existing and new investors are relying on the government to maintain the momentum and secure some gains. Nonetheless, being open for business depends on several key factors.
Last week, the government wrote to Eni and its partner VITOL as well as Springfield to withdraw the Unitisation directive imposed upon them. We spoke to the CEO of the Upstream Petroleum Chamber, David Ampofo about it and other matters of interest to the oil and gas industry.
Chief Executive Officer of the Ghana Upstream Petroleum Chamber, David Ampofo, has urged government to respect the provisions and tenures of agreements with upstream petroleum sector players.
The Business Edition of PM Express will tonight discuss challenges in Ghana’s oil industry and the steps to improve its fortunes.
The upstream petroleum industry awarded contracts worth US$3.6billion to indigenous companies over the last three years, thereby deepening the local content policy.
Tanzania petroleum regulators insist that there is no operational contract signed between the government and Petrodel which claims to own the three blocks.