ABSTRACT
For Ghana’s petroleum resource to yield high dividends for its people, good governance in the sector is absolutely critical. This chapter commences with a definition of good governance in the oil and gas (O&G) sector. Next is a discussion of the building blocks for good governance in the sector. Moreover, the roles of the principal actors in good governance – government, society and operators, are addressed. This is followed by a presentation of good governance functions and three key factors that are inextricably linked to good governance in the O&G sector, namely, transparency, accountability and participation. Additionally, a country example of good governance principles and practices is examined. Finally, efforts made by Ghana to establish a good governance framework, progress made so far and suggestions on the way forward are highlighted.
