Business News of 2014-04-10

New opportunities in oil sector

The Chief Executive Officer of the Ghana National Petroleum Corporation (GNPC), Mr Alex Mould, has said new business opportunities abound in the country’s oil and gas sector and has urged investors to take advantage of them.
He mentioned some of the opportunities as the building of causeways tug basin jetty with berthing, vessel and crude transfer and control system, tank farms, treatment systems with inter-connecting lines support facilities, waste water handling systems and fire protection systems.
“The total size of Ghana’s offshore sedimentary basins up to 3,000 metres depth is approximately 60,000 sq. km of which about 35,000 sq. km is licensed to international companies. The rest of the open areas fall within the Saltpond and Keta basins,” he stated when he addressed the opening of the fifth Ghana Oil and Gas Summit.
The summit is an internationally recognised conference and exhibition organised by CWC Group and endorsed by the government, GNPC, Ghana Gas Company Limited, ECG, VRA and GRIDco as well as other players in the industry.
Mr Mould added that the GNPC had intensified the review of data within the unlicensed areas in order to make them attractive for oil and gas companies.
GNPC, he noted, was focused on developing the local petroleum industry with the aim of ensuring indigenous companies’ participation to a reasonable extent in businesses emanating from the oil and gas exploration and production sector.
The CEO of GNPC further called on local fabrication yard to partner with international business in the construction of offshore infrastructure to build and assemble structures for petroleum operations.
Source: graphic.com
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