Parliament’s Select Committee on Energy has commended the Petroleum Commission for its continued efforts to strengthen Ghana’s upstream petroleum industry, attract fresh investment and ensure that the country derives greater value from its oil and gas resources.
The commendation came when the Committee, led by its Chairman and Member of Parliament for Ho West, Hon. Kwasi Bedzra, paid a working visit to the Petroleum Commission earlier today for an interactive engagement with Management.
The engagement provided an opportunity for both sides to discuss developments in the petroleum sector, ongoing regulatory and legislative reforms, investment promotion, local content, production, institutional capacity and the challenges confronting Ghana’s upstream industry.
Addressing the delegation, the Ag. Chief Executive Officer of the Petroleum Commission, Ms. Emeafa Hardcastle, described the visit as an important demonstration of the constitutional partnership between Parliament and institutions responsible for managing the country’s petroleum resources.
“As a key partner in ensuring that our work is conducted transparently and in the national interest, we appreciate this opportunity for candid engagement and mutual accountability, particularly at a time when Ghana’s upstream petroleum industry is undergoing significant
reforms, Ms. Hardcastle said.
She further explained that the Commission remained committed to its mandate of regulating and managing the utilisation of Ghana’s petroleum resources while coordinating sector policies under the oversight of the Parliament and the Ministry of Energy and Green Transition.
Ms. Hardcastle said the industry was at a defining moment, with government pursuing a deliberate agenda to reverse declining crude production and reposition Ghana as a competitive destination for upstream investment.
She highlighted legislative and fiscal reforms, renewed exploration and investment, increased production and gas supply, stronger local content and institutional strengthening as some of the key areas in which progress was being made.
According to her, the government had secured fresh investment commitments estimated atabout US$3.5 billion, while negotiations around the South Deep Water Tano Block were expected to support renewed exploration activity.
Ms. Hardcastle also cited the Commission’s partnership with Halliburton Ghana Operations, including a US$15 million agreement aimed at strengthening teaching and research at the Kwame Nkrumah University of Science and Technology, as part of efforts to build technical capacity for the industry.
Responding to successive presentations on the regulatory overview of the Commission, Hon.Kwasi Bedzra commended the Commission for what he described as the hard work being undertaken to advance Ghana’s upstream petroleum industry.
He said the purpose of the visit was not simply to exercise parliamentary oversight but to understand the Commission’s work, identify challenges and explore areas where Parliament could provide the necessary support.
“The work of the Petroleum Commission is central to the future of Ghana’s petroleum industry. As a committee, our responsibility is to understand what is happening on the ground, listen to the regulator and ensure that where parliamentary intervention is required, we provide the
necessary support,” Hon. Bedzra said.
He added that the Committee recognised the importance of collaboration between Parliament, the Ministry of Energy and Green Transition and the Petroleum Commission in ensuring that Ghana’s petroleum resources were managed in the national interest.
The Committee’s Deputy Ranking Member, Hon. Collins Adomako-Mensah, who is also Member of Parliament for Afigya Kwabre North, called for stronger support for the Petroleum Commission, arguing that the effectiveness of the upstream sector depended significantly on
the strength of its regulator.
He said the Commission required the necessary institutional, technical, and financial support to effectively discharge its mandate and respond to the increasingly complex demands of the upstream petroleum industry.
“If we want a strong petroleum industry, then we must have a strong regulator. The Petroleum Commission needs the support, resources, and institutional backing to do the work that the people of Ghana expect of it,” Hon. Adomako-Mensah said.
The working visit ended with a renewed commitment by both institutions to maintain close engagement and collaboration as Ghana seeks to attract new investment, increase petroleum production, strengthen local participation, and maximise the economic value of its upstream petroleum resources.