{"id":1075753,"date":"2022-05-04T11:41:41","date_gmt":"2022-05-04T11:41:41","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/05\/04\/ghana-to-offer-oil-blocks-in-western-eastern-basins-dr-adam\/"},"modified":"2022-05-04T11:41:41","modified_gmt":"2022-05-04T11:41:41","slug":"ghana-to-offer-oil-blocks-in-western-eastern-basins-dr-adam","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/05\/04\/ghana-to-offer-oil-blocks-in-western-eastern-basins-dr-adam\/","title":{"rendered":"Ghana to offer oil blocks in Western, Eastern Basins\u2014Dr Adam\u202f"},"content":{"rendered":"

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\n Accra, May, 4, GNA-Ghana will soon offer new oil blocks in the Western and Eastern Basins for exploration through direct negotiations, Dr Mohammed Amin Adam, the Deputy Minister of Energy has said.<\/p>\n
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\u202fThe offer, he said, was part of enhanced exploration strategies aimed\u202fat\u202faccelerating\u202fextraction to generate\u202frevenue, create\u202fjobs\u202fand\u202fsupport economic growth.<\/div>\n
\u202fDr Amin said this on the sidelines of the 2022 Offshore Technology Conference, at Houston Texas, in the United States of America,\u202fmonitored by the Ghana News Agency.<\/div>\n
\u202fHe\u202fstated that Ghana was seeking to maximise resources and that the Ministry would not relent on efforts to create an enabling environment for investments through legal and regulatory reforms.\u202f<\/div>\n
\u202f\u201cFor example, the government over the last two years amended petroleum regulations to allow for exploration in production and development areas without a requirement for a new petroleum agreement, \u201d he said<\/div>\n
\u202f\u201cWe also provided flexibility in determining the size of a development and production area to prevent potential assets near the field from being stranded.\u201d<\/div>\n
\u202fHe said in spite of the global energy transition, Africa\u2019s oil would continue to play a strategic role as oil fields globally were depleting faster than the decline in global demand.\u202f<\/div>\n
\u202f\u201cGhana is well positioned as production cost remains low in our country. Further to this, our investment environment is very enabling and has been considered one of the most liberal in Africa.\u202f\u202fOur petroleum fiscal regime adequately rewards investment capital, provides fiscal stability and certainty against future adverse developments\u201d he added.<\/div>\n
Dr Adam said Ghana\u2019s oil investment climate was the most liberal in Africa and investor friendly offering higher returns to investors.\u202f<\/div>\n
\u202fHe added that the licensing regime was transparent, and provided investor certainty and flexibility, and also accommodated different financial products, including risk capital as well as concessional facilities for the development of oil and gas resources.<\/div>\n
\u202f\u201cOur oil basins are largely derisked, especially the Western Basin, which contains about 80 prospects and 40 discoveries. This means that the potential to make a discovery when you invest in exploration in Ghana is very high,\u201d he noted.<\/div>\n
\u202fDr Adam said the potential for growing Ghana\u2019s petroleum and energy industries was huge; and the prospects for accelerating the growth of the economy was much brighter in the future.\u202f<\/div>\n
\u202f\u201cAs already demonstrated by data from the Ghana Statistical Service, real economic growth rate in 2021 is about 5.4 per cent, which outperformed what was projected at 4.4 per cent, a strong indication of the return of our economy to pre-COVID times,\u201d he said.<\/div>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Accra, May, 4, GNA-Ghana will soon offer new oil blocks in the Western and Eastern Basins for exploration through direct negotiations, Dr Mohammed Amin Adam, the Deputy Minister of Energy has said. \u202fThe offer, he said, was part of enhanced exploration strategies aimed\u202fat\u202faccelerating\u202fextraction to generate\u202frevenue, create\u202fjobs\u202fand\u202fsupport economic growth. \u202fDr Amin said this on the sidelines […]<\/p>\n","protected":false},"author":1,"featured_media":1075755,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[11611,11745,1184,8657,85,6219,1077,1544],"class_list":["post-1075753","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-adam","tag-basinsdr","tag-blocks","tag-eastern","tag-ghana","tag-offer","tag-oil","tag-western"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1075753","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1075753"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1075753\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1075753"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1075753"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1075753"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}