Russia, Ghana to cooperate in energy production

Petroleum Minister Emmanuel Armah-Kofi Buah and Mr Alexander Novak, Russia’s Energy Minister, have pledged to continue facilitating the cooperation between Ghanaian and Russian companies in the area of energy and petroleum.

A statement issued by the Ministry of Petroleum said the two ministers met at the Russian Ministry of Energy during, which they discussed possible ways of meeting the provisions of the two countries’ Intergovernmental Commission on Trade, Economic, Scientific and Technical Cooperation.

It said the meeting was part of a working visit to Russia from June 22 to June 24 by Ghana’s Petroleum Minister, accompanied by Mr Alexander Mould, Chief Executive Officer (CEO) of the Ghana National Petroleum Corporation; Mr Theophilus Ahwireng, CEO of the Petroleum Commission, and Dr Kodzo K. Alabo, Ghana’s Ambassador to Russia.

The statement said Mr Armah-Kofi Buah met with Mr Vagit Alekperov, President of Lukoil, to discuss the Russian oil company’s recent decision to farm into the Deep Water Tano/Cape Three Points project made up of the Pecan, Pecan North and Cob discoveries currently being operated by Hess Corporation.

It said the Lukoil President and the Minister discussed future cooperation in light of Ghana’s deregulation of petroleum pricing and “agreed on modalities that will help the Bulk Oil Storage and Transport Company meet its mandate of providing the strategic reserve stocks for the country.”

The statement said the minister also met with officials of the gas company Gazprom.

“The Minister discussed with representatives of the company how it could work with Ghana to develop the country’s gas industry. It was decided that a follow up meeting will be held with Gazprom to fashion out the way forward within the context of Ghana’s Gas Master Plan”, the statement said.