Ghana's Energy Sector, Oil and Gas News
The first-ever competitive bidding for the allocation of oil blocks to companies in the petroleum upstream sector will be launched on October 5, this year.
The Chief Director of the Ministry of Energy, Mr Lawrence Asangongo Apaalse, has assured global oil companies interested in operating in the country that Ghana has dispute-free maritime boundaries with its neighbours.
The Executive Secretary of the Ghana Oil and Gas Service Providers Association (GOGSPA), Mr. Nuetey Adzeman has said that the country’s drive towards localization of the oil industry is depended on constant interactions among indigenous companies, other industry giants and regulator.
The West Africa coast has undoubtedly a long and rich oil industry history spanning many decades. It is however pitiable that most energies have been trained on just getting the oil out as it yields quick and ready money, while a relatively lucrative undertaking in the same industry - decommissioning - is paid scant attention.
Following the settlement of the maritime boundary dispute between Ghana and Cote d'Ivoire, Tullow Oil, a leading independent oil and gas, exploration and production group has announced it will restart the development drilling in the TEN fields by end of 2017.
Responding to the judgement of the Special Chamber of the International Tribunal of the Law of the Sea (ITLOS) in Hamburg on Saturday, Tullow said since the new maritime boundary as determined by the tribunal does not affect the TEN fields as per the map, it will work with Ghana.
Participants in a public forum on the management of petroleum revenues have strongly recommended penalties for those who divert oil revenue for other purposes.
A report by the Public Interest and Accountability Committee (PIAC) showed that some petroleum revenues were used for projects outside the four thematic / priority areas for 2011-2016.
Many oil rich countries have used their oil resources as a major tool to propel development and improve the living conditions of their people.
It is in the light of this that the discovery of oil in commercial quantities in Ghana in 2007 was embraced with euphoria by many Ghanaians.
Kosmos Energy is a leading independent oil and gas exploration and production company focused on frontier and emerging areas along the Atlantic Margins.
Our assets include existing production and development projects offshore Ghana, large discoveries and significant further exploration potential offshore Mauritania and Senegal, as well as exploration licences with significant hydrocarbon potential offshore Suriname, Sao Tome and Principe, Morocco, and Western Sahara.
Engen Petroleum is a pan African Energy Company with head office in Cape Town, South Africa. Engen Petroleum is present in 18 countries in sub Saharan African and the Indian Ocean islands with market leadership in about six of these countries.
Engen Ghana Limited, one of the 18 affiliates of Engen Petroleum, has been operating in Ghana since 1999 and has a deep understanding of the Petroleum needs of Ghanaians.
Seventeen selected mid-career managers at Tullow Oil Ghana Limited are building their leadership skills in the China Europe International Business School (CEIBS) Advanced Management Programme (AMP). The 18-month programme has been tailor-made to fit the needs of Tullow Ghana limited, one of the leading oil and gas production companies in Ghana. The CEIBS (AMP) provides the Tullow employees a chance to step back from their daily professional demands while reflecting on the challenges facing the organisation.
Chinese multinational firm Yantai Jereh has expressed interest in supporting key infrastructural development in the oil and gas industry in Ghana.
The company believes there are opportunities to explore in pipelines, refineries, petroleum storage, LNG/CNG systems, LPG distribution and natural gas compression.
A high-powered team of Scottish business people are in the country to explore investment opportunities in the oil and gas sector.
Representatives of 19 oil companies, whose visit was facilitated by the Scottish Development International (SDI), will in the next four days interact with key players in the oil and gas sector to assess the industry and find potential local partners.
Players in the country’s oil and gas industry have expressed shock at reports making the rounds that the current Chief Executive Officer of the Petroleum Commission is to be axed and the post handed to a “politically aligned” person.
The industry upstream sector players kicking against any such move suggest the best way forward would be to establish a board whose members have proven expertise in the industry who will focus on supporting the commission and allied bodies – the National Oil Company (NOC), the Ghana National Petroleum Corporation (GNPC), and the Ghana National Gas Company (Ghana Gas), and the Environmental Protection Agency to protect the interest of the country.
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