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Scottish investors explore opportunities in oil/gas sector

BY: Musah Yahaya Jafaru
Mr Adam Afriyie (left), the British Prime Minister's Special Trade Envoy and Member of British House of Commons, exchanging pleasantries with Otumfuo at Manhyia Palace
Mr Adam Afriyie (left), the British Prime Minister's Special Trade Envoy and Member of British House of Commons, exchanging pleasantries with Otumfuo at Manhyia Palace

Investors from 18 oil and gas companies in Scotland are in Ghana to explore business opportunities in the oil and gas sector.

The areas of focus for the trade mission include technology transfer in geological survey, drilling, standard measurement and onshore and offshore risk assessment services.

The companies include Aberdeen Drilling School Limited, Air Control Entech, Apollo Offshore Engineering Limited, Aquatic Engineering and Construction Limited, Corex UK Limited, Eserve International and Global Pipe Components.

A British Member of Parliament for Windsor, Mr Adam Afriyie, is the Prime Minister's special envoy leading the delegation to Ghana. The father of the three-time British MP is a Ghanaian.

Networking

At a networking reception in Accra on Tuesday, Mr Afriyie said the investors saw Ghana as a welcoming destination because of the boom in the oil and gas sector.


He said the investors, mainly from Aberdeen, the European Centre for Science and Technology, had the capacity to train Ghanaian engineers in best drilling practices.

Mr Afriyie said the Scottish investors would partner Ghanaian companies in their operations and lauded Ghana for the peace and economic successes being recorded.

Similar values

The British High Commissioner to Ghana, Mr Ian Walker, said UK's similarities and common values with Ghana "are very real."

"We are very keen to grow UK, Scottish trade partnership with Ghana", he said.

The Head of Operation, UK-Ghana Chamber of Commerce (UKGCC), Mr Derrick Cobbinah, said the chamber had promoted partnerships between Ghana and UK companies since its formation 18 months ago.

Envoy meets Asantehene

In a related development, Donald Ato Dapatem reports that Mr Afriyie has paid a courtesy call on the Asantehene at the Manhyia Palace.

In his remarks, the Asantehene, Otumfuo Osei Tutu II, called for a balanced trade partnership between Ghana and Britain.

He said the age-old lopsided trade relations had put Ghana at a disadvantaged position and contributed to the underdevelopment of the country.

Otumfuo Osei Tutu said under the country’s new policy of ‘Ghana Beyond Aid’ declared by President Nana Addo Dankwa Akufo-Addo, Ghana was looking for partners who would add value to its rich natural resources for export thereby creating employment opportunities and generating resources for both the investor and the people of Ghana.

The Asantehene noted that Ghana was saddled with debts which had made it extremely difficult to raise the needed revenue to undertake projects and stated that the country was looking for investors who would establish manufacturing plants to add value to the natural resources, provide technology transfer, and get returns on their investments.

Envoy

Mr Afriyie described the Asantehene and Ghanaian cultures in general as very rich and added that Ghana and Britain had a long historic and respectful relationship.

He gave an assurance that Britain would continue to support Ghana in various development initiatives.