The Minister for Energy and Green Transition, John Abdulai Jinapor, has officially inaugurated the newly appointed Board of the Petroleum Commission, charging members with the critical task of revitalizing Ghana’s upstream petroleum sector amid mounting challenges.
In a statement shared on his official Facebook page, Mr. Jinapor acknowledged the significant hurdles confronting the industry, including recent international arbitrations, a drop in foreign investment, and dwindling oil and gas reserves.
He further cited issues related to local content and participation, particularly in the core areas of oil and gas exploration and production.
“In line with the President’s vision, efforts are being made by the Ministry to revitalize the upstream industry,” he stated.
“We have commenced processes to amend laws and regulations to introduce fiscal flexibility, and enhance predictability and transparency in the sector.”
The Minister urged the board to leverage their collective expertise to enhance regulatory oversight and improve the attractiveness of Ghana’s upstream sector to investors. He described their task as “onerous” but emphasized its importance in stabilizing and growing a vital component of the national economy.
He assured board members of his full support as they take up their mandate to ensure effective governance and sustainable development of the petroleum industry.
Composition of the New Petroleum Commission Board:
- Mr. Ernest Thompson – Chairman
- Ms. Victoria Emeafa Hardcastle
- Prof. Nana Ama Browne Klutse
- Mr. Crisler Akwei Ankrah
- Hon. Mensah Joseph Kwasi
- Dr. Hasiyatu Abubakari
- Mr. Hassan Thompson Osman
The Petroleum Commission plays a key role in regulating and monitoring upstream petroleum activities in Ghana, including licensing, compliance, and promoting local content. The newly inaugurated board is expected to provide strategic direction in these areas as Ghana navigates an evolving global energy landscape.
Source; www.leakyghana.com
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