On behalf of the Public Interest and Accountability Committee (PIAC), I would like to welcome all our stakeholders, partners, past and current Members, Secretariat Staff and the public to the year 2025. With a deep sense of humility and pleasure on being elected as Chair of PIAC, I extend heart-warming felicitations from the reconstituted Committee and its new leadership to the government, industry players, civil society, analysts and observers.

As we welcome and embrace the New Year, we reflect also on the past year and note the positive outcomes brought about by the collaborations and partnerships with stakeholders and partners. These collaborations and partnerships did not only reflect in the publication of the statutory reports of the Committee, undertaking public engagements and other programmes but particularly the holding of the maiden and historic Technical Consultative Workshop on declining crude oil production in Ghana, which provided a forum for the generation of ideas to revive and revitalize the upstream oil and gas sector in Ghana.

As we look with optimism at the New Year and the opportunities it offers, PIAC will continue to work together with its stakeholders, partners and the citizens of Ghana to extend the frontiers of transparency and accountability in the management and use of petroleum revenues in Ghana. There has been strong evidence in the past few years that, despite the energy transition drive, there is still a good case for business and economic growth with investments in hydrocarbons in developing countries. It therefore behooves Ghana to undertake a rigorous investment drive in the sector to take advantage of the prospects for optimum economic growth.

Undoubtedly, since the coming into force of Act 815 as amended and the establishment of the Public Interest and Accountability Committee in 2011, gains have been made in the management of Ghana’s petroleum revenues. PIAC will continue to collaborate with all stakeholders and partners in the fulfilment of its mandate as provided for by the Act to ensure that the upstream oil and gas sector in Ghana contributes its quota to the growth of the Ghanaian economy for the benefit of its citizens.

PIAC would like to finally congratulate the good people of Ghana on the peaceful presidential and parliamentary elections held in December, 2024 and commends the outgone and new government for the successful transition of power from one democratically elected government to the other and look forward to a fruitful collaboration and engagement with the new government in the fulfilment of its mandate as outlined in the Petroleum Revenue Management Act 2011(Act 815) as amended.

The Public Interest and Accountability Committee (PIAC) wishes the government, stakeholders, partners, members, staff and the people of Ghana a happy and prosperous new year.