The Public Interest and Accountability Committee(PIAC) wants government to consider folding up the Saltpond Oil Field over its dwindling production in the past years.
The Committee contends it is no longer viable for the Oil Field to stay in operations, insisting that the oil Fields cannot hold fort in market expectations in subsequent years with crude oil price expected to hover around US52 in 2015.
This was captured as part of recommendations of the PIAC annual report presented by the Chairman of the Committee, Professor Paul Buah-Bassuah at the 7th Regional public forum in Cape Coast.
The forum which was attended by Civil Society Organizations (CSOs), religious bodies, traditional leaders and other stakeholders was aimed at encouraging citizens to take keen interest in the use and management of petroleum revenues.
PIAC is a statutory committee established under section 56 of the Petroleum Revenue Act (Act 815) in 2011 to monitor and evaluate compliance of the Act by the Government and other relevant institutions in the management and use of petroleum revenues.
By: Kasapafmonline.com/Ghana
