Ghana Upstream Petroleum Chamber has organized two days conference on Oil and Gas at the Movenpick Ambassador Hotel in Accra.
This year’s Ghana Oil and Gas Conference is held under the theme ‘ Ghana’s oil and gas industry: Prospects and Opportunities,’
In his opening address at the conference, the Chief Executive Officer of Ghana Upstream Petroleum Chamber, Mr.David Ampofo gave highlights of the pivotal role of natural gas in Ghana’s energy landscape. The CEO stressed that despite its significance, the full potential of natural gas remains largely uptapped , citing key challenges that must be tackle to solve its potentials.
The CEO foremost concern is the urgent need for a well defined pricing structure for gas, saying that such a clarity is important for guiding investments, efficient planning, and coordinated industry implementation.
He underlined the importance of enhanced cooperation between the industry and the government, recognizing that businesses in the sector operate within a policy framework that significantly influences their success.
Mr.David Ampofo further said that the predictable, and consistent government policies are essential for the prosperity of the oil and gas industry. He also pledged the Upstream Petroleum Chamber’s commitment to creating a responsive business environment for both Ghanaian and international investors in the oil and gas sector.
The challenges and technical capacity limitations in the oil and gas sector, the Energy Minister suggested the need to rely more on indigenous companies, including local financial institutions, for the development of the hydrocarbon resources.
The Minister, pointed out the dependence on Western countries for demand and support in the hydrocarbon sector. He highlighted the necessity of the developing markets and infrastructure across the African continent for the processing, storage, transportation, and transformation of hydrocarbons as a means to overcome this reliance.
The Chairman of the Parliamentary Select Committee on Mines and Energy and Member of Parliament for Abuakwa South Constituency Hon. Samuel Atta Akyea, gave details on how the economic potential of Ghana’s oil and gas industry.
He gave details on the frustration with the pace of development of potential resources, including those in the Voltaian Basin, and called for private sector partnership…… Story by Bugbila Moadow.