Business News of 2014-08-11

We're committed to engaging Ghanaians in petroleum business

Mr. Jean Cahuzac, Chief Executive Officer of Sub-Sea 7, a world renowned offshore Fabrication Company, has said the company would continually engage and train Ghanaians to effectively participate in the Oil and Gas business.

He said their commitment is to give meaning to the Local Content and Local Participation Law of 2013, and urged other companies to do same.

The Law stipulates that Ghanaian citizens should be prioritised in terms of employment in the petroleum industry, and should benefit from the country’s resources, while foreigners have their due.

Mr. Cahuzac was speaking at the sod-cutting ceremony for the construction of the Company’s fabrication facility at the Takoradi Port in the Western Region.

The facility forms part of the plans to expand the Takoradi Harbour and to make it an industrial enclave for oil services.

Subsea 7, is the main contractor for Tullow Oil on the Tweneboa, Enyara and Ntomme (TEN) Development project .The project would soon increase oil production in the country.

The company is to provide the designs, fabrication, transportation and installation equipment which include production flow lines and connections, and metrology for jumper connections.

Mr. Cahuzac pledged that the company would apply the highest ethical standards in executing their mandate, saying, “We have thrived on safety, integrity, innovation, performance and collaboration, over the years with our partners”.

The Western Regional Minister, Mr. Paul Evans Aidoo, said the expansion of the Takoradi port would increase its capacity to facilitate multi-lateral trade between as the port serves as a hub for the petroleum sector.

He said the project would facilitate the fabrication of sub-sea equipment for oil and gas companies.

“I believe these are laudable efforts by the government to bring ports and harbours to acceptable international standards and to make them competitive... to attract transit trade through the ports to land locked countries,” he stressed.

The Minister advised the youth to study hard and pursue courses in the petroleum sector alongside other relevant courses and programmes so as to make them marketable and to secure employment in the sector.

Source: GNA
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