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Oil & Gas

Tullow fails to find oil in Onyina-1 well near Jubilee

Tullow Oil has failed to find oil in an exploration bid at the Onyina-1 exploration well in the Deepwater Tano licence offshore Ghana. Tullow Oil has said in a press release copied to ghanabusinessnews.com that it encountered water bearing reservoirs at the well which indicates that it is a dry …

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Oil will grow Ghana’s economy – Dr. Boeh-Ocansey

Dr Osei Boeh-Ocansey, Director General of the Private Enterprise Foundation (PEF), said the development objective of government towards the oil and gas discovery is the growth of the economy to facilitate development and industrialisation. He said the industry is also expected to accelerate growth, poverty reduction and general prosperity of …

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Ghana Embassy to hold oil forum in Chech Republic

The Ghana Embassy in the Czech Republic will on November 9, hold a forum on Ghana’s emerging oil and gas industry in Prague, the capital of the Czech Republic. A statement issued in Accra, on Monday, by the Embassy, said the forum would be organised in collaboration with the Czech …

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TUC raises red flag over management of oil revenue

A few weeks into commercial production of oil, the Ghana Trades Union Congress (TUC), has raised the red flag over the uncertainty in the legal and institutional framework for the management of the oil revenue. It said proposed laws such as the Ghana Petroleum Revenue Management Bill and the Petroleum …

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Cable maker Nexans targets Ghana’s emerging oil sector

Nexans, a top global cable manufacturer, will scale up its investments in Ghana in readiness to tap the opportunities in the emerging oil industry, Frederic Vincent, Chairman and Chief Executive Officer (CEO) of the company has said. Mr Vincent said its local unit, Nexans Kabelmetal Ghana Ltd, is offering training, …

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Ghana to get Petroleum Law before budget is read

The Petroleum Exploration and Production Bill and Petroleum Revenue Management Bill would be passed before the budget for 2011 would be read in November, this year. Mr Cletus Avoka, Majority Leader in Parliament,  said when Parliament resumes sitting on October 19,  efforts would be made to ensure that those bills …

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Greek shipping company wins $160m Ghana oil contract

A Greek shipping company, DryShips Inc., is reported to have signed an exploration and drilling contract in Ghana. The deal which is with Vanco Overseas Energy Ltd. is worth $160 million, The Wall Street Journal quoted the company as saying. The deal according to the report is a five-well contract …

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MDPI to train Ghanaians for oil and gas sector

The Management Development and Productivity Institute (MDPI) of the Ministry of Employment and Social Welfare has initiated a programme to ensure the full participation of Ghanaians at all levels in the emerging oil and gas industry. The Institute, with funding and technical support of its collaborating agencies, has therefore started …

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