NGO raises red flag over onshore oil exploration
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Govt realises $330m from total petroleum receipts
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Take urgent steps to contain risk of stranded oil in Ghana – CSPOG to gov’t
By Eric Nana Yaw Kwafo LISTEN
MAR 16, 2021
The Civil Society Platform on Oil and Gas (CSPOG) is calling on the government to as a matter of urgency take necessary steps to contain the risk of stranded oil in Ghana as the world gradually embraces the use of renewable energy.
As a result of the Coronavirus (Covid-19) pandemic last year, the oil industry in the world suffered a great deal.
Although the industry has started to bounce back from the fall, experts are not expecting that it will reach the levels of 2019.
Ghana’s oil industry will soon become moribund unless new discoveries are made – Steve Manteaw
Dr Steve Manteaw Listen to article
Chairman of the Civil Society Platform on Oil and Gas, Dr Steve Manteaw says an analysis of the country’s oil production data since 2010 indicates that Ghana’s oil industry will soon be depleting unless new discoveries are made.
According to him, already 50 percent of the total Greater Jubilee reserves, 33 percent of Tweneboa Enyenra Ntomme (TEN) Field, and 25 percent of Sankofa have been produced.
The Pecan and AGM fields operated by Aker were supposed to have made substantial progress towards production by now, but last year, Aker served notice that it was suspending its Final Investment Decision (FID) on grounds of market slump, and project viability concerns, he added.