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Oil & Gas

Ghana to finalise $1b gas project

The Ghana National Petroleum Corporation (GNPC) is in the process of finalising a joint venture pact with the investor community and the World Bank to finance phase one of its onshore gas project estimated at a cost US$1 billion. The  equity debt ratio of 40:60 makes the project attractive to …

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World Bank groups provide $225m insurance cover for Ghana’s oil industry

MIGA, a member of World Bank Group, entered into a 225-million-dollar 20-year contract to provide political risk insurance for the Floating, Production, Storage and Offloading (FPSO) vessel that would produce and process oil and gas from the Jubilee offshore oil field in Ghana on June 30. This was contained in …

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Ghana to impose fine on Kosmos Energy for spillage

A five-member committee that investigated the oil spillage at Kosmos Drilling Fields in West Cape Three Points in the Western Region has recommended that the management paid some money to the Government. Dr. Edward Kofi Omane Boamah, Deputy Minister of Environment Science and Technology and Chairman of the Committee presenting …

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Government asked to dialogue with oil communities

Dr. Steve Manteaw, Executive Director of Integrated Social Development Centre (ISODEC), has urged government to listen and address the concerns of communities to be affected by activities of the country’s oil exploration. He said dismissing concerns of such communities as portrayed in the country’s oil management bill before Parliament, would …

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Tullow makes another significant oil find in Ghana

Tullow Oil has announced another significant oil discovery in Ghana. In a press release copied to ghanabusinessnews.com Monday July 26, 2010, the major stakeholder in Ghana’s oil sector says “Owo-1 exploration well in the Deepwater Tano licence offshore Ghana has intersected a significant column of excellent quality light oil. Results …

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Let’s avoid oil disasters – Buah

Mr Emmanuel Armah-Kofi Buah, Deputy Minister of Energy, said government would ensure that Jubilee Field operators worked within approved rules and internationally accepted standards to prevent disasters. He said the recent oil spill in the Gulf of Mexico and Ghana’s poor record in the mining industry were critical indicators that …

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Expert calls for safety measures to manage fledgling oil industry

The Transport Officer at Tema Oil Refinery (TOR), has underscored the need for Ghanaians to acquire professional education in health, safety and the environment issues, to boost the operations of the oil and gas industry. Mr David Azupio said the logistics network in the oil and gas sector is complex …

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Ghana’s Petroleum Management Bill said to be ‘cut and paste’

Mr Charles Ayamdoo, Director of Anti-Corruption,  Commission on Human Rights and Administrative Justice,(CHRAJ), has described Ghana’s Petroleum Revenue Management Bill (PRMB) as the “cut and paste” versions from international best practice laws on oil management. He said the bill in its current form, does not address the peculiar challenges of …

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Ghana government asked to secure national interest in oil find

The President of Ghana Oil Drilling Academy and Consultancy (GODAC), has asked Government to define a road map on how to achieve the proposed 90 per cent local content in the burgeoning oil industry. Mr Prince Frimpong Donkor, also the Chief Executive Officer of the academy said it is common …

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UNDP promises assistance for Ghana’s oil sector

The United Nations Development Programme has promised to assist Ghana to develop a framework that will ensure that the country’s new found oil will become part of its blessings. In a press release issued following a three-day visit to Ghana of Helen Clark, the UNDP Administrator, it praised the country …

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