The country has secured more than US$3.5billion of fresh investment commitments from partners in its flagship Jubilee and Offshore Cape Three Points (OCTP) oil fields as government moves to reverse years of declining crude production and restore confidence in the upstream petroleum sector, Finance Minister Dr. Cassiel Ato Forson has said.
The Republic of Congo has appointed Franc Mouzabakani Kiesse as Director General of the Upstream Petroleum Sector, placing a veteran petroleum executive in charge of overseeing the country’s exploration and production activities as it pursues higher crude output and expanded upstream investment.
The Public Interest and Accountability Committee (PIAC) has expressed concern over the continuous decline in Ghana’s crude oil production, warning that the country’s upstream petroleum sector risks collapse unless urgent steps are taken to reverse the trend. According to the committee, daily oil output has dropped significantly from over 120,000 barrels to less than 80,000 […]