The Petroleum Commission (PC), in collaboration with the Ministry of Energy, participated in the third edition of the Ghana-Norway Business Forum, held at the Accra City Hotel. The event, organised by the Royal Norwegian Embassy in Ghana, aimed to strengthen bilateral cooperation and promote sustainable investment in Ghana’s upstream petroleum sector.
The forum brought together key stakeholders from government, the private sector, and the diplomatic community to exchange insights, address challenges, and explore investment opportunities in Ghana’s economy, particularly in the oil and gas industry.
In his opening remarks, Mr. Kerr Hommes, Deputy Head of Mission at the Norwegian Embassy, welcomed participants and emphasised the forum’s role as a vital platform for dialogue, knowledge exchange, and alignment of business strategies with government policy.
He expressed optimism about deepening Norway-Ghana business relations and called for more collaboration between institutions and the private sector.
Leading the delegation from the Petroleum Commission, Director of Economics and Local Content, Mr. Kwaku Boateng, delivered a detailed presentation highlighting the legal and regulatory framework governing the petroleum sector, Ghana’s fiscal regime, the outlook of the oil and gas industry, the country’s energy transition policy, and current investment opportunities in the upstream sector.
Mr. Boateng addressed questions regarding local content policy, noting, “There is no ambiguity about the definition of local content because it has been clearly defined in the law. However, the Commission’s focus now is to maximise in-country activities through increased value creation and value addition without compromising ownership by Ghanaian businesses.”
He added that steps are being taken to harmonise local content policies across the oil and gas and mining sectors to ensure predictability and attract more investment.
He concluded his remarks by encouraging Norwegian businesses to take advantage of available farm-in opportunities in Ghana’s various petroleum basins.
The forum also featured contributions from representatives of the European Chamber of Commerce in Ghana, the Ministry of Food and Agriculture, and the Ministry of Trade and Agribusiness. Successive speakers outlined business and investment opportunities within their respective sectors, further enriching the discussions and fostering multi-sector collaboration.
Closing the forum, Ms. Vivian Hilde Opsvik, Counsellor for Food Security and Climate and Deputy Head of Cooperation, thanked participants for their active involvement and encouraged government agencies to incorporate the insights shared into their policy frameworks for better implementation outcomes.
The Ghana-Norway Business Forum continues to serve as a crucial bridge between both nations, fostering partnerships, encouraging investment, and advancing shared goals in sustainable development and economic growth.
Ghana-Norway Business Forum on Strategic Investment in Upstream Petroleum Sector
