INVESTMENT ENVIRONMENT IN GHANA IS “INCREASINGLY HOSTILE “: OIL INVESTORS SAY

Dr. Steve Manteaw, Co-chair of the Ghana Extractive Industry Transparency Initiative (GHEITI), states that investors are currently uninterested in Ghana's oil and gas sector. 

Dr. Steve Manteaw

This is based on the fact that, since 2017, Ghana has not attracted investors to bring any oil field into production, despite holding several competitive bidding rounds for its oil blocks.

Investors have also described Ghana's investment environment as "increasingly hostile," leading to their reluctance to invest in the country's oil and gas sector.

Investors are not interested in Ghana’s oil sector and that is why you see very little to no investments in the sector, the GNPC now spends millions of dollars on roadshows to attract investments into the oil sector but the investments don’t materialize and if they do their homework well, they would know why investors are not willing to invest in the country’s oil sector, he said.

Dr. Steve Manteaw made this assertion while speaking at the Ghana Extractive Industry Transparency Initiative (GHEITI) Technical Workshop for Journalists, which focused on the 2021/2022 GHEITI reports on the mining, oil, and gas sectors. 

The objective of the Technical Workshop with journalists was to enhance the media's capacity on key issues from the 2021/2022 GHEITI Reports and to broaden their overall understanding and knowledge of the extractive sector.

Source: norvanreports.com

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