For instance, the amendment of the Petroleum General Regulations (LI2390) enables an E&P company to continue exploration within a Development and Production Area (DPA) without signing a new Petroleum Agreement. This regulatory adjustment makes future exploration possible within a development area without further recourse to the Parliament for a new approval.
Also, the amendment of the Model Petroleum Agreement by way of a review of fiscal terms to make the fiscal regime flexible will encourage investments into the oil and gas space. The popular sentiment within the industry is that Ghana’s fiscal regime is not attractive enough. Specialists believe countries like Guyana, Namibia and Suriname with even higher volumes of resources have more attractive fiscal terms than Ghana.
Currently, there are 14 Petroleum Agreements in existence, with three production fields bringing daily production to 150,000 barrels and about 700mmscf of natural gas, with approximately 300mmscf of gas exported daily.
With the optimism and speed that Jubilee project was delivered the country should have had higher crude production volumes by now. “We are regressing.
Denne historien er fra July 2024-utgaven av Offshore Africa.
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Denne historien er fra July 2024-utgaven av Offshore Africa.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
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Aquaterra Energy Launches Offshore CCS and Hydrogen Storage Projects
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