Ghana To Share Experiences In Oil & Gas Revenue Management With Senegal
The President of the Republic, Nana Addo Dankwa Akufo-Addo, has indicated his preparedness to share the experiences Ghana has gained in the management of its oil and gas resources, since its discovery in 2007, as well as the measures taken to ensure the prudent and effective use of the proceeds from their sale with Senegal.
According to President Akufo-Addo, “With the recent discovery of oil and gas in Senegal in commercial quantities, and with our experiences, I believe Ghana is well-equipped to share with you the dos and don’ts in the effective management of oil and gas revenues.”
President Akufo-Addo’s statement was in response to the request put forward by the President of Senegal, His Excellency Macky Sall, at a meeting held at the Presidential Palace, on Tuesday, 16th May 2017, to discuss possible areas of co-operation between the two countries.
The production of oil and gas, and the revenues from the sale thereof, President Akufo-Addo explained, present the two countries with the perfect opportunity to transform the structure of their respective economies, from raw material producing and exporting ones to industrialised, value-added economies.
To this end, the two countries have resolved to create the necessary legal framework for the conduct of our bilateral co-operation in this regard, with Senegal soon to send a team to study Ghana’s nascent oil and gas industry and adopt best practices in the management of Senegal’s oil and gas resources..
