The petroleum ministry is considering a Gas Master Plan that will provide a regulatory framework to address infrastructure planning and delivery requirements in the sector.
The plan, the sector minister Emmanuel Armah-Kofi Buah disclosed at a summit in Accra, is currently before cabinet for approval.
He added that once approval is given, the ministry will develop a gas policy that will guide the industry.
“My ministry is taking steps to address infrastructure planning and delivery requirements in a Gas Strategy outlined comprehensively in a Gas Master Plan. This master plan is currently before Cabinet for approval,” Buah said.
“Once cabinet approves the plan, the ministry will develop a Gas Policy and Gas Bill that will provide a transparent regulatory framework for the industry,” he added.
The Chief Executive of the Petroleum Commission, Theo Ahwireng, noted that the country’s upstream petroleum sector continues to grow steadily.
“Since the discovery of oil and gas in commercial quantities in the Jubilee Fields in 2007, with 25 additional discoveries, including two new discoveries made in the Deep Water Cape Three Points (DWCTP) in the first quarter of 2013, Ghana’s upstream petroleum sector continues to grow steadily,” he said.
He also disclosed that reconnaissance exploration activity has been planned to better understand the prospectiveness of the frontier Voltaian Basin.
According to him, the commission is open to investments and reinvestments in the upstream petroleum sector.
“As we work with industry players to build a robust industry, we continue to welcome increased investments and reinvestments in our upstream petroleum sector,” he said.
In a speech read on his behalf, the Chief Executive Officer of the Ghana National Petroleum Corporation (GNPC), Alexander Kofi-Mensah Mould, said his outfit is willing to engage with and partner investors in exploring opportunities in the sector.