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.
Bu hikaye Offshore Africa dergisinin July 2024 sayısından alınmıştır.
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Bu hikaye Offshore Africa dergisinin July 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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