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Petroleum Commission opens office [Photos]

The office in the region, according to the Energy and Petroleum Minister Emmanuel Armah Kofi Buah, “marks a major milestone in the regulation of the sector”.

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He says it “will bring the regulator closer to where petroleum activities have been undertaken to ensure the commission’s visibility on the ground to ensure effective monitoring of the petroleum sector”.

Mr. Buah further indicated that the office will deepen the collaboration and relationship between the Petroleum Commission and relevant stakeholders in the western region “to ensure frequent community education and engagement”.

Acting Chief Executive Officer of the Petroleum Commission Theophilus Ahwireng assured industry players that the office will not only be a symbol of the commission’s presence in the region “but will be empowered and resourced to render varied services to our stakeholders in the region”.

He added that “over the last few years, we have witnessed a significant involvement of the Ghanaian businesses and professionals in the industry. We shall continue to work with the industry partners to further move to greater heights”.

On expected industry regulations, Mr. Ahwireng indicated that three key provisions are at various stages of completion. He said the Health and Safety and Environmental Regulations and Drilling, Petroleum Measurement Regulations and the Data Management Regulations are being worked on “and are at various stages of completion for onward submission to parliament”.

He adds “the promulgation of the Fees and Charges LI, the Joint Venture Regulations which is meant to address challenges of Joint Venture formation and the establishment of this regional office are strong pointers to the vision and direction of the commission”.

He admonished all oil and gas players to change the way they conduct business to meet the new dynamics following the slump in oil prices that has seen downward decline over the past year.

“This is a clear indication that there is the ardent need for all stakeholders to change the way we do our business in the era of downward. The era of business as usual is over”, he said.

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