In Ghana, the Petroleum Commission held a meeting with the board of directors of Uganda’s Petroleum Authority to exchange experience in regulating oil exploration and production. The parties confirmed their intention to deepen cooperation and support knowledge sharing, MyJoyOnline reports.
Regulatory experience
Ghana Petroleum Commission Chief Executive Emeafa Hardcastle said the meeting gives both institutions an opportunity to learn from each other’s experience and improve the management of oil resources. According to her, Ghana is ready to share the expertise gained during its transition from exploration and field development to commercial production.
The Ghanaian side presented its experience in the legal and regulatory framework, cost control, occupational health, safety, environmental standards, investment attraction and the development of local business participation in the sector. Petroleum Commission Board Chairman Ernest Thompson stressed the importance of experience-sharing among African regulators and expressed hope that cooperation between the two institutions would eventually become more formalized.
More current news is available on the UA.News Telegram channel Telegram.
Investment and environmental standards
A representative of the Ugandan delegation, Uganda Petroleum Authority board member Professor Vincent Bagire, said Uganda seeks to use the experience of countries that have already gone through the stages of exploration, field development and production. According to him, this is especially important for a country approaching its first oil production.
During technical presentations and discussions, participants considered practical difficulties in regulating oil exploration and production activities. They also discussed investment attraction, effective resource management, compliance with environmental and safety requirements, and changes in the global energy market amid the energy transition.
Ghana is also exploring opportunities to develop onshore resources, particularly in the Volta Basin. The source notes that Uganda’s experience in developing onshore oil resources may be useful to the Ghanaian side.
Download our app
