David Ampofo

Chief Executive Officer of the Ghana Upstream Petroleum Chamber, David Ampofo, has urged government to respect the provisions and tenures of agreements with upstream petroleum sector players. According to him, push by civil society organisations among others for government to review its agreements with the upstream players following their recording of large windfalls is premature and unbelievable. He said the government has a duty to attract new investment into the sector if it expects to generate more revenue; hence premature reviews of contracts might give the country a bad reputation in the investor community. “When I hear it I cannot…

Chief Executive Officer of the Ghana Upstream Petroleum Chamber, David Ampofo, says the problem with the upstream petroleum industry is the lack of new investment in the sector. According to him, currently the upstream industry has plateaued largely due to the failure of government to attract new investment into the sector. Speaking on PM Express Business Edition, he noted that a remedy to the problem was for the government to make the sector much more attractive for investors rather than taking up an adversarial role. “You’ll have to replace the reserves as you go on. If you’re producing from the…