The Minister for Energy and Green Transition, Dr John Abdulai Jinapor, has reaffirmed government’s commitment to reversing the decline in Ghana’s oil production and increasing gas supply to meet growing domestic demand.
Dr Jinapor made the remarks after engaging the Ghana Upstream Petroleum Chamber to review developments in the upstream petroleum sector since the government assumed office and discuss measures being implemented to strengthen the industry.
The engagement also provided an opportunity for the Minister to outline government’s plans and vision for Ghana’s oil and gas sector, with a focus on restoring investor confidence and creating a more attractive environment for upstream investments.
Dr Jinapor said government would continue and deepen reforms that have contributed to rebuilding confidence in the sector while pursuing measures to make Ghana’s upstream petroleum industry more competitive and predictable.
He identified the reversal of declining oil production as a major priority, alongside efforts to increase domestic gas production, particularly to support power generation.
According to him, government is pursuing a combination of policy, regulatory and infrastructure interventions to achieve these objectives.
The Minister disclosed that the ongoing review of Ghana’s upstream petroleum legal and regulatory framework is intended, among other things, to improve the competitiveness of the sector and attract additional investment.
He also stressed the need to maximise the value of Ghana’s oil and gas resources by processing and utilising more of the country’s petroleum resources domestically.
Dr Jinapor noted that increasing gas supplies for local consumption, especially for electricity generation, would be critical to improving Ghana’s energy security and reducing reliance on imported natural gas and other energy products.
The meeting also allowed the government to consider concerns raised by members of the Ghana Upstream Petroleum Chamber regarding the development of the sector.
Dr Jinapor described the engagement as constructive and emphasised the importance of sustained collaboration between government and industry stakeholders.
He said a strong partnership between the two sides would be crucial to building a more competitive, predictable and sustainable upstream petroleum sector capable of delivering greater value to the Ghanaian economy.
