On Friday, 8th September 2023, I joined the Chiefs and people of the Western Region to celebrate another remarkable development in our nascent, but promising petroleum industry – the commissioning of First Oil of the Jubilee South East Project.
I commend the dedicated operator of the Jubilee field, Tullow Ghana Limited. Tullow, in collaboration with its partners, the Ghana National Petroleum Company (GNPC), Kosmos Energy, Jubilee Oil Holdings Limited, and Petro SA, has shown exceptional commitment in making this achievement possible. It is truly a moment of joy for us all, a testament to what collaboration and strategic partnerships can do.
The success of the South East Project aligns with the broader Jubilee field plan, aimed at bolstering gross production from the field's eastern side. With a collective investment of some one billion United States dollars (US$1 billion), our target of maintaining production above one hundred thousand (100,000) barrels of oil per day from this field, by year end, is well within reach. With some three hundred million (300 million) barrels of oil estimated within the Jubilee field, this triumph augments our confidence in other prospects across the nation.
Government’s policy intention is that Ghana should not only be the recipient of direct revenues from upstream petroleum operations, but also create value through local participation. To this end, the Local Content and Ghanaian Participation law L.I 2204, that was passed in 2013, has been amended to include channel partnerships and strategic alliances in the upstream petroleum sector.
Our position of local content is not just about supplying ancillary services to the sector, but also having a stake in the resources as well. We must collectively endeavour to train our people to get to a level where they have the capacity to be able to participate fully in the industry, and our position is to strengthen all training vehicles in the various industries of the Energy sector, like the Accelerated Oil and Gas Capacity Building Programme, to ensure that Ghanaians have the relevant certification to become competitive, and play a fuller role in the industry. That fuller role will be most effectively anchored when we ensure Ghanaian equity participation in the upstream development of our oil and gas resources.
The following happened under the NDC-Mahama administration:
1. Between 2012 and 2015, the Bank of Ghana provided overdrafts to finance the government and Cocoabod EVERY YEAR. Does Hon. Ato Forson recall this?
2. The Bank of Ghana incurred similar negative equity in 2017 & 2018 from the impairment of legacy liquidity support loans granted in 2015 & 2016 to insolvent banks. Does Hon. Ato Forson recall this?
These happened under the NDC-Mahama government when there was no Covid-19 pandemic, and no global economic crisis induced by Russia's invasion of Ukraine.
Hon. Ato Forson, please tell us your recollections of the two items when you address the press at the Bank of Ghana picketing on the 29th.
Fellow Ghanaians, the NDC's constant opposition without alternatives is void and vain because it does not provide a basis for sound comparison. Ignore & forget the NDC.
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#JoyNews #GMG #3NewsGH @asaaseradio995@metrotvgh@peacefmonline
Listen to how John Mahama and his appointees skillfully squandered the $200M loan meant for the Seglemi Housing Project, which was initiated by Prof Atta-Mills. The Mahama-led NDC really worry this country.
The State has initiated prosecution against those responsible for misusing the funds intended for the project.
An Accra High Court will commerce fully the trial of Collin Dauda a former Works and Housing Minister under John Mahama and 4 others from November 9th, 2023 for willfully causing a financial loss to the State over the $200m sum approved for the project.
“If a deputy minister at the Ministry of Education as I believe you were then (and a non-lawyer at that) could gather the moral courage and temerity and see no wrong in lobbying for a contractor to be paid $1.3m (GH¢146m in today’s currency) whose very claim was being challenged in court at that material time by the Attorney General, then the world may be forgiven to see as extremely curious your description today of the West Blue claim as a scandal’. Assuming of course, that the claim against you by your Attorney General is true.”—Gabby on Okudzeto Ablakwa
Good Dr BAWUMIA 👑
While you are working on your part, God works for you also, and gives Knowledge and Skill in all Humility and Wisdom. Be focus and it shall well for you.
Stay Blessed 🙏.