Upstream Sub-Sector

The objectives of the Upstream Sub–sector is to ensure the effective management of the oil and gas resources of the country and also accelerate exploitation of  and development of new hydrocarbon resources for the overall benefit and welfare of all Ghanaians, present and future. Government is further committed to attracting increased local value-added investments in the oil and gas sector and the indigenization of knowledge, expertise and technology. The main objectives of the upstream sub sector are:

  • Manage oil and gas revenues transparently and ensure equity for the benefit of the present and future generation of Ghanaians. This will be achieved through institutional reforms and transparent regulation for the management of the oil revenue through legislative guidelines for the creation of a Future Generation Fund.
  • Encourage investments along the oil and gas industry value chain through fiscal incentives and “even- handed” regulation. Maximise the benefits of oil and gas wealth generation through the use of local goods and services, people, businesses and financing in all aspects of the oil and gas industry value chain and retaining the benefit within Ghana
  • Ensure security for oil and gas industry installations and operations through the development of dedicated institutional arrangement for national oil and gas security matters and legislation of oil and gas safety requirements.
  • Develop a viable domestic petrochemical industry based on natural gas.
  • Support capacity building at all levels in the country’s technical, vocational and tertiary institutions.