Kosmos Energy Ghana has expressed its commitment to play a part in ensuring that the associated gas from the oilfields yield the expected dividend of transforming the national economy.
Vice-President and Country Manager of Kosmos Energy, Mr. Joe Mensah, says aside the contribution of oil revenues to the national budget, “we believe natural gas has a lot to offer the country.”
He told the Daily Graphic in an interview that there were examples of countries such as Trinidad and Tobago, which used gas to transform their economies and that such success stories could be applied in Ghana.
“A lot of gas is being produced from the existing fields. The challenge is how to transport it to the eastern corridor for power generation. Kosmos is working with a range of stakeholders to develop a solution and ensure that it becomes a reality in the shortest possible time,” he said.
Mr. Mensah said future economic development and industrialization hinges on the availability of affordable and reliable power. “If we harness our gas for domestic power, I can tell you that we will keep our lights on and keep industries running.”
Mr. Mensah also stressed that Kosmos aims to be Ghana’s long-term partner and therefore wants to support the country’s economic development, making it a destination additional foreign direct investment. “Ghana should be a shining example of a well-managed oil and gas economy,” he said.
As the price of oil remain unstable in more than a decade, investors are becoming cautious of investing heavily in the oil exploratory activities.
However, the natural gas and associated gas fields present an opportunity to Ghana to make the gas sector more attractive to international oil companies to explore and develop gas as the next game changer.