The Chief Executive Officer of Ghana’s petroleum upstream regulator, Petroleum Commission, Egbert Isaac Faibille Jnr has invited investors to Ghana’s petroleum upstream sector, assuring them that there are zero political and social risks for their investments.
Speaking at the just-ended Africa Oil Week in Dubai, UAE, Mr Faibille Jnr stated that since the constitutional regime of the country in 1992, no petroleum investor had suffered any form of expropriation under successive governments.
Promising investors of attractive and transparent fiscal terms, Mr Faibille stated that based on petroleum agreements, provisions and sanctity of contracts, investors are at liberty to come forward to even ask for negotiations regarding the fiscal regime and ask for some areas to be lowered.
He said terms of contracts are respected and human security guaranteed with a record of conducive political and social atmosphere for business in Ghana, but not the reverse as pertains in other neighbouring countries and other jurisdictions.
Mr Faibille encouraged prospective investors to conduct background research about the activities of some existing investors such as Tullow Oil, ENI, Kosmos among others and “they would point to Ghana as the El Dorado of oil and gas development in West Africa.
“And at the end of the day, you’ll have your profit back”, he stated.