PHDC Seeking to Slash Petroleum Sector Permit Timeline from 492 Days to 30 Days
Ghana’s Petroleum Hub Development Corporation (PHDC) is seeking to drastically reduce the time required to secure permits for investments in the petroleum sector—from the current 492 days to just 30 days—as part of efforts to make the country a more attractive investment destination.
Chief Executive Officer of the PHDC, Dr. Tony Aubynn, made the announcement during the Corporation’s maiden inter-agency dialogue, which brought together key stakeholders from across the petroleum value chain to discuss strategies for enhancing regulatory efficiency and improving the sector’s investment climate.
“If you want to establish a petrochemical plant in Ghana and you want to go through all the regulatory agencies one by one, it will take about 492 days to do that. Which investor will want to stay for 492 days for him to get an EPA permit or water commission permit or some other permit?” Dr. Aubynn queried.
He explained that the PHDC’s goal is to create a streamlined process that enables investors to secure an “omnibus permit” within a maximum of 30 days—without compromising the integrity of the regulatory process.
“This idea is to bridge this gap. We are looking at 30 days for an omnibus title to be given or omnibus permit to be given—not shortchanging the process though,” he emphasized. “On a personal note as CEO of the Hub, I am committed to working with all of you. Let us replace territorialism with teamwork and bureaucracy with breakthrough thinking.”
The summit, held under the theme “Building the Energy Hub of Choice: Unlocking Synergies for a Globally Competitive Petroleum and Petrochemical Hub”, marked a critical step in the Corporation’s broader strategy to transform Ghana into a leading petroleum and petrochemical hub in West Africa.
The inter-agency dialogue is expected to culminate in the establishment of a coordinated regulatory framework that consolidates the roles of key agencies, shortens processing times, and eliminates the redundancies that currently hamper project execution.
