By Gifty Arthur
The Chief Executive Officer (CEO) of the Ghana National Petroleum Corporation (GNPC), Alex K B Mould, has said that the West Africa sub-region, has “massive potentials”, however, to exploit these potentials efficiently and effectively, governments, and other stakeholders, will have to think outside the box to create the right environment, to develop new opportunities not just for investors, but for the people.
“It is, therefore, important that our various Governments and the oil producing/servicing companies, adopt fair and equitable laws, as a framework for the exploitation of the oil and gas resources in the sub-region, in order to ensure that when this non-renewable resource is no more, the people within the various economies and investors can all look back and be proud”, he said.
Mr. Mould said this at the18th Offshore West Africa Conference and Exhibition, a regional premier technical forum, focused on exclusive West Africa offshore oil and gas market, which has been opened at the Accra International Conference Centre (AICC).
The three day conference themed, “Expanding West Africa’s Offshore Potential”, which started yesterday, offers a unique platform to reach target audience, with both a world class conference combined with the exhibition, showcasing the latest technological developments.
The conference, which is being held in Ghana for the third successive time, brought together both national and international operators to play an important role in expanding the West African market.
Major amongst the local operators is the Ministry of Energy and Petroleum, with its allied agencies, including the GNPC.
In his keynote address, Mr. Mould, opined that the Conference offers the platform for players to compare notes, share their vision and strategies and serve as guide posts to potential investors, who want to come and partner with them in harnessing the hydrocarbon potential of the sub-region for their mutual benefits.
“It also offers us the opportunity for early detection of emerging trends that have the potential to affect our operations and build the roadmap to finding solutions to the diverse challenges facing the industry in the sub-region”, he said.
The GNPC boss said, his outfit which by law is mandated to be party to all petroleum agreements, has over the years worked closely all E&P companies operating in the country.
“The culmination of this hard work, has led to a string of significant oil and gas discoveries offshore Ghana, which include the world-class Jubilee Field, the upcoming TEN Field and the Sankofa-Gye Nyame fields.
“Over the next four years, subject to the approval of plans of development (PoDs) by the Minister for Energy & Petroleum, we expect commercial development and production from the TEN Field, Sankofa-Gye Nyame field, Full Field development of the Jubilee Field, and the Teak-Akasa Field”, he noted.
In a speech read on his behalf, the Minister for Energy and Petroleum, Emmanuel Armah Kofi Buah, underscored the importance of the Conference, noting that since Ghana discovered oil in commercial quantities, it has become imperative that it follows international standards in all it does, with respect to the petroleum sector and so expressed excitement over the organization of the forum.
“Ghana is blessed with abundant natural resources and since the discovery of oil in commercial quantities in 2007, it has become imperative to ensure that petroleum activities are carried out in a safe, secure and sustainable manner, through the complete adherence to the laid down rules that guide the industry.
Our basins, continue to attract very high interests, from major oil and gas companies. We are proud to note that since Jubilee, 23 other new discoveries, have been made and are at various stages of appraisal/development”, the statement said.
The conference, which comes to a closure on Thursday, will discuss topics such as, regional trends and challenges, floating production systems, subsea Intervention, flowlines and pipelines, deepwater exploration, well construction and drilling operations, operations and Logistics.