President John Evans Atta Mills has cautioned his government will not hesitate to punish investors who take undue advantage of the people.
While promising to support foreign investors in their business endeavours, President Mills says the laws of the country must guide all.
He was speaking to officials of Kosmos Energy Exploration Group who paid a courtesy call on him on Thursday, at the Castle, Osu.
According to Stephen Anti, Joy News' Castle Correspondent, the meeting was held in a cordial, relaxed atmosphere, with the executives of Kosmos paying glowing tribute to Ghana’s democracy.
President Mills said the people of the Western Region must be made to feel the oil presence in their community, and advised Kosmos Energy to develop the community during their period of exploration.
He also advised the group to procure goods and services from local sources in order to promote business in the region.
Greg Hill, President of Kosmos Energy told Stephen Anti after the meeting, that figures emanating from the oil fields in Ghana were not bloated in order to boost the stocks of the company as has been speculated by the media.
He maintained Ghana has oil reserves in excess of two billion barrels which will be explored for the benefit of the country.
Mr. Hill was however evasive on what percentage of revenue from the exploration will be made available to government for purposes of development.
Story by Nathan Gadugah
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
Latest Stories
-
Driver on bail over fraudulent land transaction
5 minutes -
Common vaginal ‘imbalance’ may be an STI
18 minutes -
Keynote speakers arrive in Paris for Women of Valour
3 hours -
It’s time to reset Ghana and private sector must lead the way – Ishmael Yamson
4 hours -
Prosecutors demand Luis Rubiales World Cup kiss retrial
5 hours -
Ghana won’t sink any further, investors must stay – Ishmael Yamson
5 hours -
Dr. Louisa Satekla pays courtesy call on Haruna Iddrisu to promote oral health education
5 hours -
Coastal Civil Society Forum engages tidal wave victims, calls for urgent gov’t action
5 hours -
ECB apologises for Pope Francis Ashes post joke
5 hours -
Denmark postal service to stop delivering letters
6 hours -
Photos: Mahama visits victims of tidal waves destruction in Volta region
6 hours -
Teen armed with gun overpowered by passengers onboard plane
6 hours -
Ghana Month: From war airbase to global gateway – KIA’s evolution and Ghana’s airline struggle
6 hours -
Rosetta Quaicoe: Preventing future Cholera outbreaks in Takoradi: A public health imperative
6 hours -
Edward Bawa assumes office as Acting Group CEO & MD of GOIL PLC
6 hours