Flag bearer of the main opposition National Democratic Congress (NDC), John Dramani Mahama has expressed concern over the exit of some big offshore oil companies from Ghana.
He accused the government’s decision to push oil companies out of Ghana, warning that the country risks losing valuable industry partnerships that are crucial to the nation’s oil sector.
Addressing concerns of some chiefs of the Western House of Chiefs in Sekondi as part of his campaign tour of area, John Mahama emphasized that the departure of key oil companies could severely impact Ghana’s oil production and economic growth, particularly as the country faces the challenge of sustaining its oil industry for future generations.
“We will reengage oil companies that have left so that they can return to work. Because of Climate Change, they are alternative sources of energy that are being explored which means there is a shift away from oil. So if you have oil deposits, this is the time to really make good use of them otherwise you might not be able to access potential buyers on the market in the future,” former President Mahama said.
Mr. Mahama pledged that a future NDC government would work to bring these companies back on board to ensure that Ghana maximizes the potential of its oil reserves before they deplete.
“We will invite and present them with favourable agreements to that they can expedite the extraction of our oil so that our country can benefit,” Mr. Mahama said.
He stressed that the NDC would prioritize creating an environment that attracts and retains foreign investment in the oil sector to secure the long-term benefits of Ghana’s oil wealth.
