New Opportunities In Oil Sector Abound

The chief Executive Officer of the Ghana National Petroleum Corporation (GNPC), Mr Alex Mould, says there are new business opportunities in Ghana�s oil and gas sector and urged investors attending the 5th Ghana Oil and Gas Summit to take advantage of these new opportunities. These opportunities identified by the CEO of GNPC, include the building of causeways tug basin jetty with berthing or vessel and crude transfer and control system, tank farms, treatment systems with interconnecting lines support facilities, waste water handling system and fire protection system. �The total size of Ghana�s offshore sedimentary basins up to 3,000 metres depth is approximately 60,000 sq. Km of which about 35,000 sq. km is licensed to international companies (IOCs).The rest of the open areas fall within the Saltpond and Keta basins�, he stated. Speaking at the opening of the 5th Ghana Oil and Gas Summit, an internationally recognized conference and exhibition, Mr Mould added that �we have intensified the review of data within the unlicensed areas in order to make them attractive for oil and gas companies�. GNPC, he noted, is focused on developing the local petroleum industry with the aim of ensuring indigenous companies participating to a reasonable extent in business emanating from the oil and gas exploration and production sector. �The quantum of participation could be measured as the composite value added or created in the Ghanaians economy through the utilization of Ghanaian human and material resources for the provision of goods and services to the petroleum industry with acceptable quality, health, safety and environmental standards in order to stimulate the development and growth of the indigenous capabilities, without compromising standards�, he further stated. Mr Mould further called on local fabrication yard to partner with international business in the construction of offshore infrastructure to build and assemble structures for petroleum operations. Signed Ania Szewczyk