{"id":8251,"date":"2024-09-26T11:56:00","date_gmt":"2024-09-26T11:56:00","guid":{"rendered":"https:\/\/www.fishfmonline.com\/?p=8251"},"modified":"2024-09-26T11:56:02","modified_gmt":"2024-09-26T11:56:02","slug":"oil-and-gas-production-declines-by-32-david-ampofo","status":"publish","type":"post","link":"https:\/\/www.fishfmonline.com\/?p=8251","title":{"rendered":"Oil and gas production declines by 32% \u2013 David Ampofo."},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>David Ampofo, the Chief Executive Officer of the Ghana Upstream Petroleum Chamber, has raised alarm regarding the declining state of the oil and gas industry, highlighting that significant potential benefits for Ghanaians are jeopardized by a troubling decrease in production over the past years.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to Ampofo, the sector has witnessed a staggering \u201c32% decline in production\u201d, which poses a serious threat to the country\u2019s economic growth and energy security.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">To shed light on this pressing issue, the Chamber has released its 2024 report on the state of the industry, now available for public review.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cThe time for action is now,\u201d Ampofo urged.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">He made these statements at the annual Oil and Gas Conference of the Ghana Upstream Petroleum Chamber held at Marriott Hotel, Accra on September 25.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">He called on all stakeholders, including government officials, to take decisive measures to protect and revitalize the sector.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cWithout immediate and strategic interventions, we risk losing the benefits that the oil and gas industry can provide to our economy,\u201d he added.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<div class=\"ose-youtube ose-uid-61d5cd8fb39e694c1820034ec7608d8d ose-embedpress-responsive\" style=\"width:400px; height:400px; max-height:400px; max-width:100%; display:inline-block;\" data-embed-type=\"Youtube\"><iframe loading=\"lazy\" allowFullScreen=\"true\" width=\"400\" height=\"400\" src=\"https:\/\/www.youtube.com\/embed\/i-WzKpUc3-Q?feature=oembed&color=red&rel=0&controls=1&start=&end=&fs=0&iv_load_policy=0&autoplay=0&mute=0&modestbranding=0&cc_load_policy=1&playsinline=1\" frameborder=\"0\" allow=\"accelerometer; encrypted-media;accelerometer;autoplay;clipboard-write;gyroscope;picture-in-picture clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen referrerpolicy=\"origin\"><\/iframe><\/div>\n<\/div><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Nana Appia Kyei, Director of Commercial and New Ventures at Kosmos Energy Ghana, echoed Ampofo\u2019s sentiments, emphasizing the need for increased investment in drilling new wells.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cIn the past 3 to 7 years, no new oil fields have been discovered, and the existing ones are gradually depleting.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">He asserted that discovering additional resources is critical to replacing those that are currently being depleted.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cIf we do not replenish the oil we extract, we will soon have no oil nor gas left to rely on.\u201d Kyei noted.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to him, \u201cIvory Coast, Namibia, and Guyana are attracting investments by making their oil and gas sectors highly lucrative.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Adding that it\u2019s mind boggling to know that \u201cInvestors once showed strong interest in Ghana\u2019s oil and gas, but lastly, they have become more hesitant.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A situation he says needs immediate attention from government.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>David Ampofo, the Chief Executive Officer of the Ghana Upstream Petroleum Chamber, has raised alarm regarding the declining state of the oil and gas industry, highlighting that significant potential benefits for Ghanaians are jeopardized by a troubling decrease in production over the past years. According to Ampofo, the sector has witnessed a staggering \u201c32% decline [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":8252,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[9,41],"tags":[2700,2702],"class_list":["post-8251","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-general-news","tag-chamber-of-petroleum","tag-david-ampofo"],"_links":{"self":[{"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/8251","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8251"}],"version-history":[{"count":1,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/8251\/revisions"}],"predecessor-version":[{"id":8253,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/8251\/revisions\/8253"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/media\/8252"}],"wp:attachment":[{"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8251"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8251"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8251"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}