Business News of 2014-06-11

Ghanaians to take active role in energy sector – Veep

Vice President Kwesi Amissah-Arthur has stated that government would not compromise on its pledge to ensure that Ghanaians take active roles in the energy sector.

He said it is government’s overriding objective to ensure that Ghanaians are involved in every aspect of the Petroleum sector.

Mr. Kwesi Amissah-Arthur gave the pledge when a delegation from the Kosmos Energy paid a courtesy call on him at his office at the Flagstaff House in Accra.

The discussions between Mr. Amissah-Arthur and the delegation centred on strengthening the existing relationship between Ghana and the company.

Mr. Amissah-Arthur noted that the recent Petroleum Technology Conference in Houston, Texas, offered the country the opportunity to discuss with investors the prospects in Ghana, especially in the petroleum sector.

He said government has welcomed the concerns raised on Ghana’s Local Content and it is taking steps through legislative means to correct some of the defects.

He stated government would continue to engage the Ghanaian private sector, as well as encourage the people to take part in the stock exchange to become dynamic.

Mr. Amissah-Arthur also noted government intends to conclude negotiations with some of the parties in the energy sector for gas to generate energy.

Mr. Andy Inglis, Chairman and Chief Executive Officer of Kosmos Energy noted the company has so far invested $3 billion and intends to invest an additional $ 2 billion in the energy sector.

He said the company is looking at ways by which they could support the energy sector to boost the economy.

He said they are also looking forward to a strong and successful partnership in Ghana.

Mr Benjamin Dagadu, Deputy Minister of Energy noted the ministry has been discussing with Kosmos Energy on the prospects of Ghana hitting extra gas to help the country get out of the energy problem.

He said the company has assured the ministry of more gas reserves to be tapped and are confident of getting extra gas for the LNG project.