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Oil & Gas

Make oil contracts bidding process transparent – Energy Expert

Dr. Mohammed Amin Adam, the Executive Director, African Centre for Energy Policy, ACEP, has called for a clear and open bidding process for oil contracts. He also called for proper assessment of the financial strength of companies awarded oil contracts to ensure that they had all the needed financial capacity to …

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Ghana Jubilee Field produces more than 37 million barrels of oil in 2014

The Jubilee Field in Ghana produced more than 37 million barrels of oil in 2014, more than it did in 2013, according to the Ministry of Finance. Reporting in accordance to the Petroleum Revenue and Management Act, the Ministry states that the total crude oil produced from the Jubilee Field …

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Groups launch website for tracking Ghana oil revenue

Africa Centre for Energy Policy, in collaboration with other governmental institutions has launched a platform to enhance the citizen’s ability to keep track of how the country’s oil and gas resources are managed. Christened: “ www.ouroilmoney.org,” the platform is one of the key building blocks of improving transparency and accountability …

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Ghana government asked to account for $200m revenue, 50% of LPG from Atuabo Gas Plant

The Ghana government has been asked to account for an amount of $200 million generated from the Atuabo Gas Plant managed by the Ghana Gas Company Limited, in the first seven months of operation. Dr. Mohammed Amin Adam, the Executive Director of the Africa Centre for Energy Policy (ACEP) raised …

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GNPC committed to work with communities – Mould

The Ghana National Petroleum Corporation (GNPC), says it would continue to partner with communities as it seeks to harness the country’s petroleum resources for national development. “We are committed to working in partnership with the people in the communities where we operate and we deem engaging them important in an …

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World Bank approves $700m guarantee for Ghana gas project

The Board of Directors of the World Bank today approved $700 million in guarantees for Ghana’s Sankofa Gas Project, the bank says in a press statement issued in Washington and copied to ghanabusinessnews.com. The statement describes the guarantee as a “record investment” for a transformational project that will help address …

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TEN project 65% complete, to produce first oil mid 2016 – Tullow

Oil producer, Tullow says the (Tweneboa-Enyenra Ntomme) TEN development project, offshore Ghana is about 65 per cent complete and is on schedule produce first oil in the middle of 2016. Tullow says among other things that it is running two well completions and starting work on a third; installing four …

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GNPC expands search for more oil fields

The Ghana National Petroleum Corporation (GNPC) has stepped up the search for more oilfields as it begins work on the Voltaian Basin Project. The project seeks to confirm the presence of petrochemicals in the voltaian basin that stretches across Volta, Northern, Ashanti, Brong-Ahafo and Eastern regions. It is being jointly …

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Ghana TEN Oil Fields 57% complete – Terkper

The Minister of Finance, Mr. Seth Terkper says the Tweneboa-Enyenra Ntomme (TEN) Fields Development is 57 per cent complete. Making a supplementary budget request in Parliament today July 21, 2015, he said, “I am pleased to inform you that the Tweneboa-Enyenra Ntomme Fields Development is 57 per cent complete. The …

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