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The African Center for Energy Policy (ACEP), has hinted that the future of Ghana’s oil sector is “very gloomy” following what it describes as “the awarding of oil contracts to “inexperienced, incapacitated and incompetent oil companies.”
According to the Executive Director of ACEP, Dr. Mohammed Amin Adam, this behaviour will by every means lead Ghana’s sector shocking all persons who might have had high hopes of better prospects.
Dr. Amin revealed that “companies with the muscles to do more discoveries are now tied by their countries in the US etc. to do business with countries with open and competitive bidding policy in petroleum contracting but our laws in Ghana does not practice the open door policy and so until Ghana signs on to the open and competitive bidding petroleum contracting regime, the future of Ghana’s oil sector is gloomy because as the previous ones are depleted, there is no one to find new ones for us.”
Source: http://citifmonline.com/2015/11/25/ghanas-oil-future-gloomy-acep/#sthash.1d5fNYAw.dpuf
