Government to ensure sustainable exploitation of oil

Sekondi, June 5, GNA - Mr Emmanuel Kofi Armah-Buah, Deputy Minister of Energy, on Friday said government is committed to a sustainable exploitation of the country's hydrocarbon resources without compromising on the integrity of the environment.

Addressing a General Meeting of the Western Regional House of Chiefs at Sekondi, he said the best legacy the country could leave for posterity is a safe environment.

Mr Armah-Buah said the Environmental Protection Agency (EPA) is on course to submit a Strategic Environment Assessment report on the Jubilee Field Development Project.

He said an EPA permit is a prerequisite for operations in the industry and this would be strictly adhered to.

He said the EPA is liaising with countries like Trinidad and Tobago and Norway which have enormous experience in the oil and gas industry to build the country's capacity to adequately oversee all environmental concerns. Mr Armah-Buah said as oil exploitation and production carry with it significant risks to the environment, Ghana National Petroleum Corporation and the EPA have been tasked to ensure that the operators abide by set standards.

He said Cabinet has approved revisions to the existing petroleum exploration and production legislation to streamline the operations of the oil and gas to ensure smooth operations of the oil industry. The Minister said a Petroleum (Exploration and Production) Amendment Bill has been submitted to the Attorney General's Department for drafting. Mr Armah-Buah said a Petroleum Regulatory and Authority Bill is also to be passed by Parliament in the course of the year to establish an independent regulatory authority for the petroleum sector. He said his Ministry has come out with a National Energy Policy and Strategy which has been approved by cabinet.

Mr. Armah-Buah said a Petroleum Revenue Management Bill has been prepared after going through a national consultation process, which would ensure the judicious implementation of the Bill when passed into law to promulgate a transparent and efficient utilisation of revenue into the national economy.

He said an Oil and Gas Security Committee has been set up to develop security master plan for the industry.

Mr Armah-Buah said plans are far advanced to construct a gas processing plant at Bonyere/Kablansuazo in the Western Region. Mr. Paul Evans Aidoo, Regional Minister, complained about a number of chieftaincy and land disputes in the area.

He said smuggling of cocoa, timber, rubber and petroleum products in the area is undermining revenue generation and wealth creation. He urged traditional authorities to sensitise the people to desist from such acts and assist the security agencies to combat the crime. 5 June 10