The government will conduct a roadshow in some significant oil and gas producing nations to inform investors of the enormous potential for petrochemicals on Ghana’s coasts.
The goal of the move is to draw more investors to the oil and gas discoveries made in the nation.
At the Society of Petroleum Engineers’ SPE Conference and Exhibition on Ghana’s oil discovery, the Petroleum Director at the Ministry of Energy, Kwame Ntow, made this announcement on behalf of the Energy Minister, Mathew Opoku Prempeh.
According to him, there are many geological reports that indicate potential oil fields along many of the coastlines that have yet to be explored.
“I am confident that Ghana’s upstream sector will flourish despite the energy transition. And I also note that our current contribution to emissions is much less than 3%”.
“We have to leverage global energy demand to expeditiously develop our oil and gas resources in a sustainable manner. It is noteworthy that only one out of Ghana’s four sedimentary basins is being actively explored; the emphasis is on actively. Consequently, there are several unallocated acreages in the remaining three prospective basins that require investments, ” he pointed out.
“So in the next few months, we’re going to be conducting roadshows in major oil capitals to ensure that we can bring the benefit or geological promise to the attention of prospective investors,” he added.
The Ghana Biennial International and Exhibition by SPE focused on 15 years of oil discovery; lessons and future outlook.
Oghogho Effiom, the SPE’s African Regional Director, appealed to the oil-producing nations of West Africa to work effectively together to determine a course for the energy transition.
She is convinced that Africa has abundant resources that, when pooled, could help the continent’s efforts to transition to clean energy.
Dr. Riverson Oppong, the incoming president of SPE Ghana, told Joy Business that the conference would become a yearly custom for the organization to discuss important issues pertaining to the extractive industry.
