04.05.2008 Business & Finance

Give constructive inputs to shape oil/gas policy – Stakeholders told

04.05.2008 LISTEN

Kumasi, May 3, GNA - Mr Emmanuel Asamoah Owusu-Ansah, Ashanti Regional Minister has called on all stakeholders to engage in constructive dialogue that would enable Government fashion out an implementable national oil and gas policy.

Speaking at the Ashanti Regional Forum on Oil and Gas Policy jointly organized by the Ghana National Petroleum Corporation (GNPC) and the Ashanti Regional Co-ordinating Council (RCC) in Kumasi on Friday, Mr Owusu-Ansah lauded government's openness to the debate so far.

He said government deserves to be applauded for putting in place effective measures to check negative effects associated with oil production.

The forum was to further deepen Government's consultation with stakeholders to ensure a sound policy expected to receive Parliamentary approval by December this year.

Mr Owusu-Ansah said oil price affects everything in an economy therefore Ghana's oil discovery when explored and managed well, could significantly transform its economy.

Mrs Mary Chinery-Hesse, Chief Advisor to the President concurred that, the oil discovery has become a national asset, which would contribute meaningfully towards the socio-economic development of the country.

She added that, every Ghanaian has a responsibility to play in making this a reality.

Giving a brief overview of the draft policy, Dr Maxwell Appiagyei Gyamfi, Director of Petroleum, Ministry of Energy said people should disabuse their minds that, investors would earn more profit from the oil.

Government, he stated would get 51 per cent as its share of the proceeds from the petroleum.

Mr George Owusu, Country Director of Kosmos Energy and Tullow Oil, Partners of the Ghana National Petroleum Corporation (GNPC), commended the Kwame Nkrumah University of Science and Technology (KNUST) for organizing series of training programmes to equip students in oil processing.

This he said would encourage a healthy competition between Ghanaians and other foreign investors.

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