(Ecofin Agency) - After five years of oil production, the petroleum sector in Ghana has delivered 7,000 permanent jobs as oil prices in the global market has been fluctuating, causing job cuts and affecting economies.

According to the CEO of Ghana's Petroleum Commission (GPC), Theo Awhireng, 80% of the jobs went to Ghanaians while the remaining 20% went to outsiders, Xinhuanet reports.

“There is a general downturn in the petroleum industry across the world, but we see a different picture in Ghana and jobs are being sustained,” he said adding that Ghana is rapidly becoming a major oil and gas investment hub as a result of struggles by the government to draw in investors.

He noted that the industry is still developing as key oil companies have been moving their offices to Ghana.

“Ghana is a very attractive destination for investment due to the political stability, investment climate and the ease of doing business. The country aimed to become a world class player in the oil and gas industry,” Emmanuel Armah-Kofi Buah, the Minister for Petroleum, had said.

Anita Fatunji