The Parliamentary Select Committee on Energy has urged the Ministry of Finance to release GH¢5.6 million to the Petroleum Commission. This funding is necessary to establish and operate a world-class data centre. The Committee believes the facility will enhance the Commission's ability to manage critical upstream petroleum data and improve its operational capacity. This move is part of Ghana's efforts to revive investment and production in the sector.
Chairman of the Committee, Emmanuel Kwasi Bedzrah, emphasized the need for continued investment in the upstream petroleum industry. He stated that this investment is crucial to reverse recent declines in investment and hydrocarbon production. Bedzrah noted that Parliament's approval of an extension of a petroleum agreement to 2030 has helped attract additional funding. This has contributed to an increase in crude oil production from about 80,000 to 120,000 barrels per day.
However, Bedzrah raised concerns over repeated budgetary allocations for oil exploration in the Voltaian Basin. He stressed that approved funds must translate into measurable results. The Committee will require clear evidence of progress before supporting further allocations for the exploration programme. Bedzrah underscored the need for greater accountability in the use of public funds committed to developing Ghana's petroleum resources.
The Committee made this appeal during a working visit to the Petroleum Commission as part of its oversight activities. The visit aimed to assess the regulator's operations and management procedures. Chief Executive Officer of the Petroleum Commission, Emeafa Hardcastle, briefed the Committee on the Commission's mandate and working procedures. These include regulating, managing, and coordinating upstream petroleum activities.
Hardcastle stated that since assuming office in 2025, the government has implemented measures to reverse the decline in crude oil production. The goal is to sustain output and reposition Ghana as an attractive investment destination in Africa's increasingly competitive petroleum industry. She added that the government has secured fresh investment commitments of about US$35 billion to help revitalize the petroleum sector.
The Committee is expected to conclude its oversight exercise with engagements at the National Petroleum Authority (NPA) and the Ghana Oil Company Limited (GOIL). This exercise aims to ensure that the petroleum sector is operating efficiently and effectively. The Committee's efforts are crucial in ensuring that Ghana's petroleum resources are developed in a sustainable and responsible manner.
The data centre will play a critical role in managing upstream petroleum data. This will enable the Petroleum Commission to make informed decisions and improve its operational capacity. The release of GH¢5.6 million is essential to complete this project. The Committee's appeal to the Ministry of Finance is a significant step towards ensuring that the petroleum sector receives the necessary support to thrive.
Key points
- The Parliamentary Select Committee on Energy urges the Ministry of Finance to release GH¢5.6 million to the Petroleum Commission for a data centre.
- The data centre will enhance the Commission's ability to manage critical upstream petroleum data and improve its operational capacity.
- The Committee seeks greater accountability in the use of public funds committed to developing Ghana's petroleum resources.
