Government lauded for growing the oil and gas sectors

The Africa Centre for Energy Policy, ACEP,  has welcomed the flow of first oil from the Tweneboa,  Enyenra and Ntome, TEN oil fields, maintaining that it presents many opportunities for the government, the companies and  the citizens.  

It says Ghana's oil and gas industry is growing and TEN has the potential to double government's petroleum revenue, contribute to economic growth and provide job prospects. 

In a statement signed by its Executive Director, Dr. Mohammed Amin-Adams, the Centre expresses joy that the development of the oil fields has provided room for Ghanaians to build the capacity of sector institutions and local firms through the local content initiatives.  

It calls on the government to invest in building the capacity of more Ghanaians and setting fabrication centres in strategic areas of the country to maximize benefits from the oil industry and position the country as an alternative service hub to Nigeria in the sub-region. 

The statement says Government must, ensure that the challenges encountered with the Jubilee FPSO are not repeated. 

ACEP notes that the arrival of TEN oil is at the time the Ghanaian economy is facing difficulties. 

Government must therefore ensure that the resources being extracted  from the TEN fields and the revenue from the export of the oil are managed efficiently for  the benefit of the people.  

GBC