Parliament pushes for GH¢5.6m release to Petroleum Commission for data centre

The Parliamentary Select Committee on Energy has urged the Ministry of Finance to release GH¢5.6 million to the Petroleum Commission to fund the development of a modern data centre. This facility will enhance the Commission's capacity to handle vital upstream petroleum data and improve its operational efficiency as Ghana endeavors to revive investment and production in the sector.

Committee Chair Emmanuel Kwasi Bedzrah emphasized the importance of sustained investment in the upstream petroleum industry to reverse recent declines in investment and hydrocarbon output. He pointed out that Parliament's decision to extend a petroleum agreement until 2030 has attracted additional funding and led to a rise in crude oil production from approximately 80,000 to 120,000 barrels per day.

However, Bedzrah expressed concerns over continuous budgetary allocations for oil exploration in the Voltaian Basin, insisting that these funds must yield tangible results. The Committee, during a site visit to the Petroleum Commission as part of its oversight duties, questioned the regulator's accountability in using public funds allocated for developing Ghana's petroleum resources.

Petroleum Commission CEO Emeafa Hardcastle briefed the Committee on the Commission's role in regulating, managing, and coordinating upstream petroleum activities. Hardcastle highlighted government's recent initiatives to reverse the decline in crude oil production, sustain output, and position Ghana as an attractive investment destination in Africa's competitive petroleum market.

She mentioned that government has secured US$35 billion in fresh investment commitments to revive the petroleum sector. The Committee's oversight activities are set to conclude with discussions at the National Petroleum Authority (NPA) and Ghana Oil Company Limited (GOIL).