The Petroleum Commission together with upstream players, GNPC, GOIL, and Base Energy under the leadership of the Minister for Energy, Dr. Matthew Opoku Prempeh is in Houston, Texas, United States on an oil and gas roadshow to showcase some of Ghana’s available offshore E&P acreages and farm-in opportunities.
The delegation is seeking to promote five available oil blocks offshore Ghana.
These are Deep-Water Cape Three Points Block, Offshore Cape Three Points South Block and Shallow Water Cape Three Points Block.
It also includes the Southwest Saltpond Block as well as the Expanded Shallow Water Tano (ESWT) Block
Speaking at a strategic roadshow event on Wednesday, 21st September, 2022, Chief Executive Officer of the Petroleum Commission, Mr. Egbert Faibille Jnr., said the Roadshow seeks to have a Ghana-focused investor engagement with energy companies aimed at encouraging them to take advantage of some attractive E&P opportunities in Ghana’s sedimentary basin for the mutual benefits of the investor and the people of Ghana.
Mr. Faibille Jnr., said oil and gas make up the largest source of energy for today’s world yet they do not last forever because they are non-renewable resource. According to him it is this signpost that guides Ghana to embark on this all-important Oil and Gas Roadshow.
“To promote sustainable exploitation while unlocking Ghana’s hydrocarbon potential, this roadshow is critical to ensuring that there is an increase in national hydrocarbon reserves to ramp up the production profile for a sustained macroeconomic growth and development” he said.
The CEO further stated that Ghana has a well-defined legal and regulatory regime with laws and regulations grounded on transparency, certainty, fairness, and best international industry practice.
“It may interest you to know that Ghana has gone the Norwegian way in the management of its oil and gas resources. We have the Ministry of Energy in charge of policy directions for the sector, our NOC, GNPC sees to the commercial interests of the state in every petroleum agreement whilst the Petroleum Commission serves as regulator of the upstream oil and gas activities” he added.
On his part, Energy Minister, Dr. Matthew Opoku Prempeh highlighted Ghana’s stable political and business climate and the fairness in its fiscal regime as well as sound legal and regulatory framework as bedrocks that should engender the confidence of investors.
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This Houston roadshow has been planned to coincide with the maiden Africa-Houston Energy Summit which opens on Thursday and will further provide the opportunity for the Ghanaian delegation to engage potential investors.
The next stop for the roadshow is in another strategic energy enclave; Aberdeen, where the delegation is expected to engage deeply with investors with the hope of clinching deals for the development of the upstream petroleum space.
Source: Petroleum commission
