The government is committed to prioritising the oil and gas sector despite the country’s transition into green energy, Technical Advisor at the Ministry of Energy and Green Transition, Dr Yusif Sulemana has said.
He explained that the sector remained a central pillar of Ghana’s economic and industrial development as such, the government had been transparent about the role hydrocarbons continue to play in the economy.
“We have always believed, and we have not hidden the intention, that hydrocarbons oil and gas will continue to be a major stage in championing our economic survival,” he stated.
He emphasised that Ghana’s position aligns with global energy realities, noting that oil and gas remain dominant sources of energy worldwide.
“It is not only Ghana, but also not only Africa; it is global, because about 70 to 80 per cent of global energy is still driven by oil and gas,” he said at the 12th edition of the Ghana Oil and Gas Awards.
Organised by Xodus Communication, the awards ceremony which brought together players in the upstream and downstream petroleum sector, stakeholders, and policy makers, served as a platform to celebrate the strides made in key areas such as environmental stewardship, efficiency, innovation, leadership, corporate social responsibility among others.
In all, 10 companies and five personalities were honoured at the awards.
Impact
The Events Director of Xodus Communication, Richard Abbey Jnr, explained that the awards had over the years fostered innovation the industry.
He added that the awards had transformed with its focus turning towards liquefied petroleum gas (LPG), particularly in efforts to reduce reliance on charcoal adding, “The focus is not just on oil anymore; gas is increasingly important”.
On challenges in the sector, he said it was important to boost local content participation in the oil and gas business.
Going forward, he said the awards would expand its footprints beyond Ghana with an ambition to position the country as a hub for the petroleum industry in Africa and globally.
The founder further called for continuous collaboration with stakeholders, including government representatives, to grow the industry and attract more investments, making Ghana a focal point in the global oil and gas landscape.
Review
The Director, Economic and Local Content at the Petroleum Commission, Kwaku Boateng, who won the award for the Energy Personality of the year, said his outfit was committed to revitalisng the sector.
In line with that, he said the Commission was reviewing regulatory practices and improving fiscal terms to make the environment more attractive.
He urged companies to comply with the regulations and invest in the local industry, reinforcing Ghana’s commitment to being a business-friendly environment adding, “We hope to increase contracts and employment for many Ghanaians in the industry,”
