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Ghana needs more investment in petroleum upstream sector - Tsatsu Tsikata

Dec. 3, 2018, 1:28 p.m.

A former Chief Executive Officer of the Ghana National Petroleum Company (GNPC) Tsatsu Tsikata has called for more investment into Ghana’s upstream sector.

According to him, the sector holds the potential to significantly reduce the country’s unemployment level.

Since the promulgation of the Local Content and Participation Regulation LI 2204, about 12,000 Ghanaians have been employed in the country’s upstream petroleum industry.

But in an interview with Citi Business News on the Sidelines of the Ghana Energy Awards, Mr. Tsikata noted that Ghana is yet to optimize the potential of its upstream sector.

“Clearly the energy sector has a huge role to play. And I believe that if we set our minds to it, areas like the upstream petroleum industry, we are still in an early stage. This is a sector that creates huge employment opportunities. It’s a sector that really young people of our country can learn about and can get immersed in, and they can develop their future in. The potential that I see in the upstream sector, we are still at an early stage in that potential.”

Mr.Tsikata honoured

Mr. Tsikata was speaking after he was honored with the Life-Time Achievement Award at this year’s Ghana Energy Awards held in Accra.

Mr. Tsikata was rewarded for contributing immensely to the growth of the Ghanaian energy sector.

Organisers of the award scheme pointed out that with his strong leadership, GNPC has become a standard for emerging oil companies.

Ghana Energy Awards 2018: Tsatsu Tsikata receives Lifetime Achievement Award

In his appreciation speech, Mr Tsikata acknowledged others who relentlessly supported him during his tenure— dedicating the award to them.

“It was an honour to have served. I was particularly proud of the many Ghanaians I worked with. It is unto them I would like to dedicate this award to. It is those technically competent Ghanaians, those who were right there at the beginning of GNPC that I would dedicate this award to” … he said

Mr Tsikata was appointed Chief Executive of the GNPC from October 1988 to December 2000 by the then ruling NDC led by Jerry Rawlings.

About the Energy Awards

The Ghana Energy Awards Scheme was instituted to recognise the efforts of individuals and organisations in Ghana’s energy sector.

It is supervised by a carefully selected awarding panel constituted of experts in the industry, from both private and public sectors.

The second edition of the awards recognised the achievements of individuals and companies in the energy industry and was well attended by over 300 stakeholders, with a representative from the Ministry of Lands and Natural Resources to grace the occasion.

Let’s push for the recognition of our oil and gas industry globally’ – Tsikata