Office Address
123/A, Miranda City Likaoli Prikano, Dope
Phone Number
+0989 7876 9865 9
+(090) 8765 86543 85
Email Address
info@example.com
example.mail@hum.com
123/A, Miranda City Likaoli Prikano, Dope
+0989 7876 9865 9
+(090) 8765 86543 85
info@example.com
example.mail@hum.com
This decline, while
troubling, is not entirely unexpected. With no new fields coming on-stream
since this peak, output from the sector has been challenged. The Jubilee field,
Ghana’s first major offshore oil discovery, is in the 14th year of its expected
25-year production cycle and is now approaching its natural decline.
Despite Jubilee, TEN and Sankofa, contributing 100% of
Ghana’s current total oil production, the outlook for the sector must concern
every well-meaning Ghanaian. If action
isn’t taken soon, the country’s once-burgeoning oil industry will be
short-lived. It’s a situation that calls for immediate intervention by all
sector players, led by government, and strong leadership to reverse the trend.
Ghana’s oil sector is at a crossroads…One of the
biggest concerns for potential investors in Ghana is the lack of regulatory
predictability. International Oil Companies (IOCs) have voiced frustration over
issues like contract sanctity and fiscal instability, both of which make it
difficult to commit to capital-intensive, long-term projects…The simple fact
remains: the
quickest way to enhance the growth of Ghana’s oil and gas industry is through
renewed investments. With the right incentives and a
stable regulatory environment, there’s no doubt that Ghana can regain its
position as a key player in sub-Saharan Africa. After all, as it is oft
said, “money goes
where it is welcome.”
The development of well-established gas infrastructure
will fast-track Ghana’s energy security by taking advantage of the vast amount
of gas within the nation’s basins and make gas a transition fuel to boost the
economy…The path forward is clear without doubt: fast, decisive action by the government to create an
investment-friendly environment that also honours existing agreements. This
will stabilize production and position Ghana as a major oil and gas hub in
Africa for years to come.
In this moment, the clock is ticking. It’s
time for the government to act—before the industry collapses. Ghana’s energy
future depends on it.
