The upstream development of our oil and gas resources would be subject to equal participation, according to President Nana Addo Danquah Akufo-Addo’s administration.
He claims that because Ghana has signed an anti-piracy pact and other international conventions requiring the country to cut carbon dioxide emissions, we fully understand global concerns, especially the energy transition.
According to him, Ghana must now build plans and strategies for the development of a net zero energy industry.
He consequently reaffirmed the government’s commitment to safeguarding our development by ensuring that our oil and gas assets serve as catalysts for economic growth rather than as weakening assets.
During the celebration of the first oil from the Jubilee South East region of the Western Region, President Akufo Addo made these comments.
The nation of Ghana is secure for investors because it has a legal system that encourages economic growth, President Nana Addo Danquah Akufo Addo urged investors once more.
“Our country Ghana has everything going forward for investment, a stable political system, a robust legal framework, a viable physical regime, a good telecommunication system, a hard-working skilled labour force and above all a warm hospitable people.”
“The achievement we celebrate today makes me proud and we summon the strides that we have made to position Ghana as the symbol of hope on the African continent,” he said.
Dr Mathew Opoku Prempeh, the Minister of Energy, also reaffirmed the ministry’s commitment to supporting gas sales agreements in order to strengthen the oil and gas industry.
“In the current light of energy transition, where you hear all the stories of net zero and decarbonisation, we just got back from an African climate change conference and we Africa, who are blessed with these natural resources and are just yet about discovering and producing these resources for the benefit of Africa are being told by those who have polluted the environment to stop production.”
“Yes, we are going to go green but not at the risk of our resources left in the ground.”
Tullow Ghana’s board chairman, Mr Phutuma Nhleko, praised President Akufo Addo for his dedication to and support of the nation’s oil and gas output.