A former Chief Executive Officer of the Petroleum Commission, Theophilus Ahwireng, has urged Ghana to explore beyond the fiscal aspects of the oil and gas sector to maximize the value of its petroleum resources.
According to him, while fiscal elements play a significant role in the sector, they should not limit the country from tapping into other opportunities for greater benefits.
He cited Norway, Trinidad, and Tobago as examples of countries leveraging additional areas to extract more value from their petroleum resources.
Speaking at a public lecture organized by the College of Engineering at the Kwame Nkrumah University of Science and Technology , Mr Ahwireng emphasized the need for authorities to adopt a broader approach.
The lecture, themed “Capturing the Optimum Value of Petroleum Resources – Looking Beyond Fiscal Elements,” featured discussions on strategies for enhancing the country’s petroleum sector.
Mr Ahwireng, who is also the Chairman and Managing Director of MODEC Production Services Ghana JV Limited, urged policymakers to explore new avenues to maximize the benefits of Ghana’s petroleum resources.
