This according to Mr Amewu is to provide and ensure efficient petroleum activities in the sector.
The Ghanaian government is revising its National Energy Policy - Energy Minister
Ghana’s Energy Minister, John Peter Amewu has disclosed that the government and key stakeholders in the petroleum upstream sector have started the process of revising the current National Energy Policy (NEP).
Mr Amewu mentioned this during the 11th International Upstream Conference held in Accra. He explained that the revision is to ensure that petroleum resources are used to optimal benefits to the country.
The revision of the Policy would also ensure the necessary regulations and policies streamlined to take advantage of the emerging opportunities in the sector whiles ensuring minimal or no adverse consequences.
According to Ghana’s Vice President, Dr. Mahamadu Bawumia the government would be responsive to the changing technological needs of the petroleum industry by adopting contemporary and innovative technologies to maximise petroleum revenue to ensure utmost benefits to the State.
Speaking during the conference, Dr. Bawumia said the government is committed to putting in the strict and effective regulatory framework to protect investments in the sector.
“One of the anchor pillars is an accelerated oil and gas exploration development plan needed to ensure the promotion of fairness, transparency, and predictability in Ghana’s upstream petroleum sector.”
All this is coming at a time when several civil society institutions and experts in the sector have been advocating for the need to revise the National Energy Policy which would ensure that adequate regulatory framework and measures are put in place to fully utilize the petroleum revenues.
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