The Ghana National Petroleum Corporation (GNPC) has released $1m for the establishment of a Research Chair in Petroleum Commerce at the Institute for Oil and Gas Studies, University of Cape Coast (UCC).
The GNPC will commit an equivalent of $250,000 per annum over four academic years to support the Chair.
The four-year programme is to facilitate the sustainable development of Ghana’s hydrocarbon deposits, while providing a reference point for developing similar technical capacities in Africa.
A Memorandum of Understanding (MoU) to that effect was signed by the Vice Chancellor (VC) of the UCC, Professor Joseph Ghartey Ampiah, and the Chief Executive of the Ghana National Petroleum Corporation (GNPC), Dr K. K. Sarpong, in Cape Coast yesterday.
The two parties seek to strengthen research in petroleum commerce and education capacity at the UCC to support commerce related to optimal exploration, delineation and development of Ghana’s hydrocarbon resources.
Prof. Ampiah described the gesture as a hallmark for the university, adding that “this is the topmost memorandum since 1962 for an Oil and Gas institution.”
School of Governance
The VC announced plans by the university to establish a School of Governance and Law, stressing, “We want to delve into the law aspect of petroleum.”
He stated that the university would embark on further collaborations with other organisations to develop programmes that would impact on society.
For his part, Dr Sarpong said the collaboration with academia would be of benefit to the industry.
“Once we sow the seeds, others will build on it,” he stated.
Dr Sarpong cautioned against petty internal squabbles which he observed had the tendency to disrupt the programme.
“Make use of the money, I don’t want it to remain on the shelf,” he said.
He pledged to commit more funds “ when we are seeing the fruit of the initial support.”