Former GNPC Boss Blasts Parliament For Ratifying Renegotiated AGM Deal
Alex Mould is former GNPC boss
A former Chief Executive Officer of the Ghana National Petroleum Corporation (GNPC), Alex Mould, has said the government had no justification to amend the petroleum agreement with AGM petroleum for oil exploration.
He also said Parliament’s decision to ratify the deal for exploration in the Deep South West Tano oil block was a bad one.
Addressing a forum organised by the Caucus for Democratic Governance, Ghana, he said AGM’s push for the amendment of the agreement which was first signed in 2013 without any major work on the block was against international standards in the industry.
He explained that GNPC when he was the helm of affairs, agreed with AGM to give GNPC 49% because Corporation had invested a lot of resources in the block before handing over to AGM for oil exploration.
He questioned why the government would agree to review the deal knowing that AGM is yet to commencement work on the oil block.
“It seems that AGM has been given a new lease of land through a sole retender and Government has reduced its stake from 49% to 18%. Be mindful that AGM was originally given this block from a competitive tender and 3 other companies that are changing the terms before they start work is akin to our controversial road contractors who bid slowly only to come back before the work starts and add to the variation.”
“Even in road contracting, this is not allowed. Also, it is our understanding that the original local content partner is being replaced by a new local content partner called Quad Energy. This company was set up months ago before Minister of Energy brought this ridiculous amendment to Parliament and they shamefully approved given the questions and issues raised.”
Controversial oil agreement
The amended deal was ratified at an emergency Parliamentary sitting last Friday amid opposition by some civil society groups and the Minority parliamentarians.
Under the previous deal, Ghana will receive 10% royalties and in addition to that, the GNPC will secure 10% free carried interest.
The GNPC under the previous deal was also expected to benefit from additional participating interest of 15%.
GNPC’s Exploration and Production Company Limited (Explorco) will also get 24%.
The existing Petroleum Agreement gives Ghana a potential 43% stake, made up of Carried and Participating Equity Interests of 25% and a Commercial Interest of 24% of the remaining 75%.
However, per the renegotiated agreement ratified by Parliament, Ghana’s 10% royalties has been maintained.
However, the free carried interest of GNPC has been increased to 15%.
Under the newly approved agreement, GNPC’s additional interest has also reduced to 3%, but GNPC’s Explorco will not take up shares in the new agreement.
Cash flow problems choke energy sector – IMF
Peter Amewu, Minister of Energy
The International Monetary Fund (IMF) has observed that state-owned enterprises (SOEs) in the energy sector are reeling under cash flow problems and inefficiencies that collectively make the sector a threat to fiscal stability.
It mentioned weak governance and inadequate tariff structure as other challenges that had contributed in placing “financial pressures” on firms in the sector.
“Electricity tariff cuts in March 2018 (of up to 30 per cent) have added to these financial problems and, consequently, to fiscal risks,” the fund said in its seventh and eighth review documents released earlier this month.
It noted that the situation in the energy sector was now “a key fiscal risk” to the economy, as the entities “contribute to a substantial drain on public finances”.
According to the fund, the three major SOEs in the energy sector – the Electricity Company of Ghana (ECG), the Ghana Grid Company (GRIDCo) and the Volta River Authority (VRA) – have been inefficient since 2014 and as a result, registered negative average return on equity over the last four years.
It, therefore, warned that although ongoing efforts to resolve legacy debts were helpful, they “cannot replace the need to secure the sector’s financial viability”.
Cost of fuel
In the documents that preceded the country’s exit from the Extended Credit Facility (ECF), the fund said “cash flow problems and inefficient operations affect electricity sector SOEs and the gas sector”.
“The core electricity SOEs – the electricity distributor, ECG2; the transmission company, GRIDCo; and the power supplier, VRA – have generated a negative average return on equity since 2014.
“A supplier to the ECG can expect to wait over a year, on average, to get paid.
“Simultaneously, the time it takes ECG to collect from its customers has increased to over 200 days,” it said.
It explained that the situation was not limited to the energy sector but extended to the gas sub-sector, where an off-take agreement for gas supply from the Offshore Cape Three Points field was impacting negatively on public finances.
It noted that the agreement, which entered into operation in October 2018, required Ghana to make monthly payments equivalent to 0.7 per cent of gross domestic product (GDP) annually.
With the 2018 GDP reported at GH¢300.59 billion, it means that the agreement cost the country about GH¢2.1 billion last year alone.
Fiscal Risk Statement
The fund noted that the taking over of the distribution network of ECG by Power Distribution Services (PDS), a private consortium, the streamlining of VRA through asset sales and the establishment of a single SOE as oversight agency “will help reduce SOE-related fiscal risks over the medium term”.
“The publication of the first Fiscal Risk Statement (by the Ministry of Finance in March) will help remind policy makers and citizens of existing fiscal risks and inform investors and other stakeholders about the steps the government is taking to address them,” it added.
New agency
The fund said the government had taken promising steps to increase monitoring, “including via the soon-to-be-established oversight entity, the State Interest and Governance Authority (SIGA).
“Much more needs to be done, though, starting with actions under the World Bank’s forthcoming budget support operation.
“Proper cost recovery for electricity tariffs is also needed,” it said.
In December 2018, the GRAPHIC BUSINESS found that the ECG suffered a net loss of GH¢1.15 billion as of June that year.
The losses were largely due to foreign exchange losses, resulting from the cedi depreciation, lower tariffs and strong growth in inefficiencies.
The half-year loss was more than double the loss the company posted in the whole of 2017.
In 2017, ECG recorded a loss of GH¢521.95 million – the highest since 2014, according to its statement of comprehensive income for the period ending June 30, 2018.
electricity SOEs – the electricity distributor, ECG2; the transmission company, GRIDCo; and the power supplier, VRA – have generated a negative average return on equity since 2014.
“A supplier to the ECG can expect to wait over a year, on average, to get paid.
“Simultaneously, the time it takes ECG to collect from its customers has increased to over 200 days,” it said.
It explained that the situation was not limited to the energy sector but extended to the gas sub-sector, where an off-take agreement for gas supply from the Offshore Cape Three Points field was impacting negatively on public finances.
It noted that the agreement, which entered into operation in October 2018, required Ghana to make monthly payments equivalent to 0.7 per cent of gross domestic product (GDP) annually.
With the 2018 GDP reported at GH¢300.59 billion, it means that the agreement cost the country about GH¢2.1 billion last year alone.
Source: Graphic.com.gh
Ghanaian Delegation Tours Halliburton, USA
A Ghanaian delegation to the Offshore Technology Conference in Houston, Texas, USA, has visited Halliburton, a Houston-based oil and gas services provider to familiarise themselves with the operations of the company.
The delegation, led by the Deputy Minister for Energy in-charge of Infrastructure and Finance, Joseph Cudjoe, was taken through presentations about the company’s operations by officials of the company.
Founded in 1919, Halliburton celebrates its 100 years of service as one of the world’s largest providers of products and services to the energy industry.
It employs about 60,000 workers from about 140 nationalities in more than 80 countries.
The company helps its customers maximise value throughout the lifecycle of the reservoir-from locating hydrocarbons and managing geological data to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the asset.
Currently, Halliburton has established a branch in Ghana, and has Joint Venture Partnership with BBS Engineering Limited and providing all the engineering works for ENI,Tullow Oil PLC, Siapem, MODEC and Aker Energy.
In a brief remarks, Joseph Cudjoe charged the authorities of Halliburton to ensure that Ghanaians were properly integrated into the activities of the company.
Senior Area Manager in-charge of Halliburton Africa Operations, Mr. Bharath Kannan indicated that the company is committed to increasing training in technology transfer to about 10 percent for Ghanaians under their employment.
CEO of Petroleum Commission Egbert Faibille Jnr urged the company to adhere to the laws regulating Ghana’s upstream sector.
We’ll Announce New Utility Tariffs In June – PURC
The Public Utilities Regulatory Commission (PURC) has said it will announce the next utility tariff adjustment in June to be implemented in July.
The PURC after taking tariff proposals from power companies such as the Northern Electricity Distribution Company (NEDCo), the Electricity Company of Ghana (ECG) and the Ghana Grid Company (GRIDCo) at a public hearing on tariff adjustment on January 14, announced that new tariffs for 2019 was to take effect from February 1.
However, according to PURC, the announcement was delayed due to the takeover of Power Distribution Services (PDS) from the ECG.
Speaking to an Accra based FM station, Head of Public Relations at PURC, Bawah Munkaila said an accurate tariff adjustment can only be determined after enough data has been gathered from the new service provider.
“We will be coming out with the next tariffs which will be effective from the 1st July. However we are announcing the tariffs within the month of June because of the takeover by PDS. We are observing some emerging trends and the takeover by PDS and are inculcating it as a condition so that after they start operating, we will be able to take the revenue requirement that is needed by PDS and all that will be inculcated in the tariff. We decided to hold on and give it another quarter to be able to give tariffs that will stand the test of time.”
The PURC had earlier on indicated that electricity tariffs will remain unchanged till July 1, 2019.
The PURC, in a statement, said changes in electricity tariffs, which is expected to take effect on July 1, 2019, will be announced in due course.
The PURC had said the decision to maintain tariffs was due to “critical emerging issues in the sector which are expected to affect the final tariff setting.”
Energy Minister Woos Ghanaians In Diaspora
Ghana’s Minister for Energy has called on Ghanaians in the diaspora to form partnership to invest in the country’s nascent oil and gas sector.
According to Mr John-Peter Amewu, there are a lot of opportunities in both the upstream and downstream sectors of the country, saying Ghanaian investors should take advantage of these and make investments.
“Come and invest in the petroleum sector of Ghana. The Government of Ghana needs you to help develop the country to where we all aspire it to be as a people. I assure you there is room for everyone,” he said.
John-Peter Amewu made the call when he addressed members of the Ghana-Houston Chamber of Commerce (GHCC) at a reception, under the theme: ‘Strengthening Diaspora Participation In Ghana’s Oil And Gas Sector’ at Chateau Crystalle in Houston, Texas, USA.
Upstream Sector
He drew the attention of Ghanaians in the diaspora to the provisions of the Local Content and Participation Regulations, LI, 2204, which requires at least 5% equity participation of an Indigenous Ghanaian Company (IGC) in each Petroleum Agreement in Ghana.
He said, until an IGC is part of a Petroleum Agreement, the PA would never be ratified.
The Local Content Regulation also empowers the Minister for Energy to waive or allow an IGC acquire less than 5% equity participation in a Petroleum Agreement.
“I encourage you to take advantage of these provisions of the Local Content Regulations (L.I. 2204) to participate in oil and gas exploration and production in Ghana,” he said.
He assured them that Ghana’s sedimentary basins are de-risked and highly prospective, saying, “Our motherland is politically stable and we have some of the best fiscal and regulatory regimes in the world.
“The maritime boundary dispute with our western neighbour has been resolved. Apart from the oil price, even that is also increasing, nothing should scare you from contributing to petroleum exploration and production in Ghana, if you have the wherewithal. Even if you don’t have the wherewithal as an individual, form partnerships and you will be surprised by what you can do together.”
Downstream Sector
Touching on the opportunities in in the downstream, Mr Amewu said government intends to develop a petroleum hub in the country and this, he said, would require refining and processing facilities, port discharge, storage, distribution and transportation facilities, as well as trading petroleum products in Ghana for the West African sub-regional markets to accelerate the growth of the downstream sub-sector.
“There are also farm-in opportunities in some existing licences, and the Petroleum Commission will be on standby to link you with the companies holding such licences. In the case of farm-ins, equity is acquired according to one’s strength.
“Our LPG promotion policy also encourages the use of LPG across the country, which requires the establishment of optimally-sized and professionally operated major LPG refill plants across the country and the expansion of LPG storage and distribution infrastructure to all parts of the country,” he added.
The Minister noted that the downstream local content policy reserves all the opportunities regarding LPG access across the country for Indigenous Ghanaian Companies.
He commended the leadership of the Ghana-Houston Chamber of Commerce for organising the programme.
In an interview with energynewsafrica.com, the Chairman of Ghana-Houston Chamber of Commerce, Mr Henry Ansah, said: “Our membership is not only for oil and gas: we are in all sectors and oil and gas is only one piece our members are involved in. But those who are involved or willing to know more about the oil and gas sector, this partnership will give them that opportunity.
“We have a lot of students here (Houston) who are in the engineering sector and we hope that they will be able to conduct them through what is available in Ghana, so that when they finish school, they will not think of what is only available here (Houston), but have two options-either to work here in the US or repatriate to Ghana.”
He said going forward, the GHCC would to deepen its collaboration with the Ministry of Energy because “it will help us know the recognised and strategic nature that the chamber here can help in working with them.
“I know the theme for this year is: ‘Increasing The Diaspora Participation In Oil And Gas’. I know a lot of people want to go to Ghana but they lack the information on the various sectors. We will provide them with the relevant information, educate them on what they need to know so that they invest right,” he concluded.
Israel Shut Down Its Only Natural Gas Field Amid Rocket Fire From Gaza
Israel’s Energy Minister Yuval Steinitz ordered on Sunday that the country’s only operating natural gas field, the offshore Tamar field, be closed as a precaution after violence between militants in the Gaza Strip and Israel flared up at the end of last week.
The natural gas from the Tamar field is being pumped by a subsea pipeline from a rig which is within the range of some the hundreds of rockets fired from the Gaza Strip at Israel over the past few days.
The temporary closure of the Tamar field put Israel’s energy supply into an emergency mode, as power plants need to use alternatives to the natural gas they receive from the field to keep operating, according to The Times of Israel. The power plants will be burning diesel, coal, and liquefied natural gas (LNG) from a ship anchored in Israel’s north.
The emergency energy situation was initially expected to last a week, The Times of Israel reported on Sunday, citing Hebrew-language business daily The Marker.
The latest flare-up between Israel and militants in the Gaza Strip saw some of the worst fighting in years, according to The Wall Street Journal. More than 600 rockets were fired from the Gaza Strip to Israel, which in turn responded with strikes on military targets in the Gaza Strip.
Lives were lost on both sides, including civilians, at the peak of the fighting on Sunday.
Early on Monday, Palestinian militants said that they had agreed a ceasefire with Israel, after a weekend of heightened hostilities which killed at least four Israelis and 25 Palestinians.
Israel’s energy ministry said on Monday that the Tamar gas field would resume operations after the ceasefire was agreed, and that energy minister Steinitz had instructed Noble Energy, the Texas-based operator of the field, to prepare to restart pumping natural gas.
Source: Oilprice.com
Ghana: Premix Fuel Hoarders To Face Prosecution-Committee Chairman
Nii Lante Bannerman, Premix Committee Chairman, Hon. Ato Cudjoe and the entourage at Komantse
The Chairman of the National Premix Fuel Committee, Nii Lantey Bannerman, has warned that any landing beach committee which will be caught hoarding and engaging in premix fuel racketeering would be dissolved and leadership prosecuted.
He said it is illegal to sell the fuel to persons who are not fishermen to be resold later at a higher price.
His comment follows last Friday’s premix fuel explosion at Kormantse in the Central Religion in which four people lost their lives.
Three others were seriously injured. One Nana Kojo,34, who died in the incident was said to have hoarded premix fuel which was stored near a cocking area.
Mr. Bannerman said his outfit is working with the national security to arrest persons illegally dealing in premix fuel in the various beach communities.
“This time round we won’t condone such behavior, whoever would be caught would be handed over to the law enforcement agency for the law to take its cause.”
Chairman of the National Premix Committee on Monday visited the scene of the accident which occurred on May 4.
Fortunately, the raging fire was contained by personnel from the Ghana National Fire Service, supported by residents, who quickly moved to the scene to stop it from spreading and causing further damage.
The Deputy Minister of Fisheries, Mr. Ato Cudjoe who was also in the community to sympathize with them donated GH¢ 40,000 to the bereaved families and pledged support to those on admission at the hospital.
He gave a stern warning to members of landing beaches committees to stop selling premix fuel to non-members who making business out of the product.
Meanwhile, Member of Parliament for Mfantseman constituency Ekow Kwansah Hayford assured residents that a number of development projects designed to enhance the fishing industry would soon be rolled out.
He noted that the Kormantse community center would be completed by the end of 2019 to honour former Member of Parliament for Mfantseman constituency Mr. Stephen Asamoah Boateng.
Source: 3news.com
BP approves Thunder Horse South expansion project in Gulf of Mexico
Oil major BP has sanctioned development of the Thunder Horse South Expansion Phase 2 project in the deepwater Gulf of Mexico.
BP said on Monday that the project will further boost output at one of the largest oil fields in the Gulf of Mexico and marks BP’s latest major investment in the U.S. offshore region.
The project is expected to add an estimated 50,000 gross barrels of oil equivalent per day (boe/d) of production at its peak at the existing Thunder Horse platform, with first oil expected in 2021.
“This latest expansion at Thunder Horse is another example of how the Gulf of Mexico is leading the way in advantaged oil growth for BP, unlocking significant value and safely growing a high-margin business,” said Starlee Sykes, BP’s regional president for the Gulf of Mexico and Canada.
“It also highlights our continued growth and momentum in a region that will remain a key part of BP’s global portfolio for years to come.”
This upstream major project will add two new subsea production units roughly two miles to the south of the existing Thunder Horse platform with two new production wells in the near term. Eventually eight wells will be drilled as part of the overall development.
Thunder Horse South Expansion Phase 2 follows several other major expansion projects at the offshore platform in recent years. An earlier South Expansion project at Thunder Horse started up ahead of schedule and under budget in early 2017 and raised output at the facility by an additional 50,000 boe/d.
Last October, Thunder Horse Northwest Expansion project came online and is expected to boost production by an estimated 30,000 boe/d. And in 2016, BP started up a significant water injection project at Thunder Horse to enhance oil production at the field.
Earlier this year, BP announced that recent breakthroughs in advanced seismic imaging had identified an additional 1 billion barrels of oil in place at the Thunder Horse field, highlighting the potential for further development opportunities in the future.
Over the last five years, BP’s net production in the Gulf of Mexico has increased by more than 60 percent, rising from less than 200,000 boe/d in 2013 to more than 300,000 boe/d today.
BP anticipates its production in the region growing to around 400,000 boe/d through the middle of the next decade.
Nigeria Shuts In More Oil After Protests In Niger Delta
A key oil pipeline and a logistics base in Nigeria’s oil-rich Niger Delta have been impacted by a shutdown and protests, the operator of the facilities said on Monday, in the latest incident that has been disrupting the Nigerian oil industry in recent weeks.
The Nembe Creek Trunk Line—one of the two key pipelines of Nigeria’s Bonny Light crude grade capable of transporting 150,000 bpd to the export terminal—was shut down on Sunday after leaks were detected, operator Aiteo said on Monday.
At the same time, protesters briefly blocked the company’s logistics base, and after talks with the firm they agreed to retreat from blocking the logistics base and table their demands to the firm, Aiteo said, as quoted by Reuters.
The company, however, has not provided information regarding the possible impact on Nigerian oil exports or when operations and the pipeline flow would return to normal.
Leaks in pipelines the Niger Delta are often caused by oil theft and operators have frequently declared force majeure on exports of key Nigerian crude grades.
Last month, Aiteo declared force majeure on the same Nembe Creek Trunk Line, due to a fire suspected to have been the result of an illegal third-party breach. Before the fire broke out, the Nembe Creek Trunk Line was operating smoothly, which raises suspicion that the fire was the result of an “illegitimate, third-party breach of the functionality of the pipeline,” the statement by Aiteo spokesman Ndiana Matthew said.
A few days later, Aiteo said that it had discovered that sabotage was the cause of the fire that caused Nigeria’s oil production to fall 8 percent per day.
Last week, Shell declared force majeure on Bonny Light exports, while exports of Amenam, operated by France’s Total, were also under force majeure, trading sources told Reuters last Monday.
Source: Oilprice.com
Consortium wins bid to build 500MWac solar PV plant in Middle East
The development of a 500MWac solar PV power plant is set to increase power supply in the Sultanate of Oman, Middle East.
This follows after a consortium composed of ACWA Power, Gulf Investment Corporation (GIC), and Alternative Energy Projects (AEPC) having recently executed the project agreements for the development of Ibri-2 Independent Power Producer (IPP) with the Oman Power and Water Procurement Company (OPWP).
The project, to be developed located around 300km west of Muscat will be developed on a BOO (build, own, operate) basis.
Meshary Al-Judaimi, division head of financial services & utilities of GIC said: “GIC is a successful co-developer of utilities projects in the GCC and with this project we are proud to develop alternative and clean utility-scale solar energy project in the GCC.”
Al-Judaimi added: “Wining Ibri-II project reinforces GIC role in supporting private sector participation in the development of the GCC economies.”
OPWP awarded the project to the winning consortium following an international competitive tendering process that included 12 qualified bidders.
Economic tariff
The winning consortium submitted the best economic tariff for the electricity that will be sold to OPWP.
ACWA Power is the lead investor in the project with a 50% stake, whereas GIC will have a 40% stake and AEPC will control the remaining 10%.
The project will be the first utility scale solar power project in Oman and will utilise solar PV technology to yield 500MWac of power.
The innovative design of the plant will ensure the highest efficiency, reliability and availability standards for any comparable plant in the world.
At peak generation capacity, the plant output will be enough to supply an estimated 33,000 homes with electricity and will offset 340,000 tonnes of carbon dioxide emissions a year.
ACWA Power’s president & CEO, Paddy Padmanathan, commented: “We applaud the government of Oman for their ambitions related to renewable energy and diversifying the country’s power mix as evidenced by the scope of this project and its future potential in supporting the Sultanates economy.
“It is an honor to have been trusted with the delivery and operation of the Ibri II Solar PV IPP based on our reputation for winning world-record power projects with the best tariffs as well as our expanding renewable portfolio and we look forward to collaborating with our partners and Omani stakeholders to successfully complete this project.”
Dr. Hassan Qassem from APECo added:“This project demonstrates the ability of GCC companies to compete with their international counterparts to provide competitive solution in renewable and sustainable energy. This project also demonstrated the Sultanate of Oman’s long term vision in sourcing renewable energy and encouraging investment in the sector.”
NPA boss adjudged Outstanding Petroleum CEO
Daniel Addo and Esther Anku (right) receiving the award on behalf of Hassan Tampuli
Chief Executive of the National Petroleum Authority, NPA, Hassan Tampuli, has been adjudged the “Outstanding Petroleum CEO of the Year for 2019.”
Mr. Tampuli, a lawyer by profession, got the coveted award on Saturday, May 4, 2019 at the 9th edition of the Ghana Entrepreneur and Corporate Executive Awards ceremony.
This year’s awards ceremony was held in Accra and saw 41 CEOs from both the public and private sectors being honored.
The Overall Best Entrepreneur award on the night went to Group Executive Chairman of the First Sky Group, Eric Seddy Kutortse.
Mr. Tampuli’s award was received on his behalf by Daniel Addo, NPA’s Financial Director and Esther Anku, the Chief Inspector.
The recognition was “for the tireless role he and his team at the NPA play, to ensure adequate and uninterrupted supply of petroleum products to the consumer across the country.”
Since he was appointed over three years ago, industry experts say he has taken serious measures, especially in the area of security, to deal with the menace of fuel smuggling in the country which had negative impact on government’s revenue.
The NPA through the various security outfits in the country, including the Bureau of National Intelligence (BNI), has effected the arrests of several BRV trucks and canoes, loaded with petroleum products.
The arrest has somewhat saved the country millions of Cedis in revenue.
Also, Mr. Tampuli’s outfit has embarked on an aggressive media campaign to educate the public about the potential dangers associated with the mishandling of petroleum products.
Regular gas safety tips on both the electronic and print media, are publicized daily.
Again, the NPA recently inaugurated a Tanker Park terminal for BRVs, which is to curb the incidence of indiscriminate parking of the trucks by the roadside.
Total enters $8.8b deal with Occidental for Anadarko’s Africa assets
French energy major Total said it had reached a binding agreement with Occidental to acquire Anadarko assets in Algeria, Ghana, Mozambique and South Africa for a consideration of $8.8 billion.
The firm said the transaction was contingent upon Occidental entering into and completing its proposed acquisition of Anadarko and approval of relevant authorities.
The deal is expected to close in 2020.
Total said the assets represented around 1.2 billion barrels of oil equivalent (boe) of 2P reserves, of which 70 percent is gas, plus 2 billion boe of long term natural gas resources in Mozambique.
It added that despite the capital investment in Mozambique LNG, the acquisition is expected to be free cash flow positive from 2020 even at a Brent price of less than $50 per barrel and to generate more than $1 billion a year of free cash flow from 2025 onwards after start-up of Mozambique LNG.
The firm confirmed its previously announced shareholder return policy from 2018 to 2020.
Ghana to host Third Africa Oil and Gas Conference
The Third Edition of the Africa Oil and Gas Local Content Sustainability Conference and Exhibition 2019 (ALC) will take place from October 10-11, in Accra.
A statement issued by the AME Trade United Kingdom, said the Conference is an international event produced and managed by AME Trade UK, and GeoVision Ghana Ltd.
It said the Ghana National Petroleum Corporation (GNPC) is the host and would highlight the fact that GNPC had achieved its mission to become a stand-alone operator by 2019, supported by the Africa Petroleum Producers Organisation.
The Conference is a continent-wide policy response initiative the brings together decision makers and relevant stakeholders with the key objective of promoting increased local participation in the supply chain of oil and gas.
This is expected to achieve the transfer of skills, capacity and economic development.
The last two editions were held in Luanda, Angola attracting nearly 600 attendees from 30 countries and featured technical site visits as well as best practice experiences from other emerging markets such as Malaysia.
The Third Edition in Ghana is on the theme: “Shaping the Future through Sustainable Local Content Policies”.
The statement said the event would focus on the sustainability of local content regulatory and institutional frameworks that had been implemented so far by African Oil and Gas Producing countries to advance local economic development.
“The choice of Ghana was informed by the various policies and actions of the Ghana Government and Industry to encourage local content development and participation of the citizens in the oil and gas value chain, since the country joined the ranks of African oil producers,” it said.
“ALC 2019 will feature technical exhibition alongside the main conference and will gather national, regional and international stakeholders from both public and private sectors including government representatives, development partners, international and national oil companies, services providers and decision makers from the industry among others.”
AME Trade’s business to business events provide vital practical information for companies looking to diversify and realign their business strategies to keep up with fast-moving global trends.
Through sector specific and country focused events, the AME is now one of the leading providers of strategic need to know business information for the African Region.
Its services include bespoke conferences, trade exhibitions,training workshops and networking functions.
BOST To Construct Pipelines To Save Cost Of Transporting Fuel
The Bulk Oil Storage and Transportation (BOST) Company is set to construct pipelines for the distribution of fuel products in Ghana to help ease the burden of cost in the use of road transport.
The pipelines from Tema-Akosombo-Kumasi when fully in operation will save BOST over 60 per cent of the costs it incurs in transporting products throughout the country.
The contract for the first phase which is from Tema to Akosombo has already been awarded to a contractor.
According to Graphic Online, the procurement process for the second phase from Akosombo to Kumasi will start by the end of this month of May 2019.
A highly placed source at BOST has hinted that the current management has secured the release of some pipes that have been locked in Houston in the United States of America (USA) for the past 12 years.
The said pipes, have transferred to Louisiana also in the USA for cleaning after which they would be brought to Ghana.
BOST, according to the source is eager to complete the pipelines project to ease the stress associated with transporting fuel product via road transport.
Carbon credit
Again, carbon footprints associated with transporting fuel by road would be eliminated to enable BOST apply for Carbon Credit.
Carbon Credit is a permit that allows a country or organization to produce a certain amount of carbon emissions and which can be traded if the full allowance is not used.
According to the source, the pipeline means of transporting products was cost-effective as compared to other alternatives.
“BOST will save a lot of resources if the pipeline project comes on board because the current road transport usage is very expensive,” the source said.
BOST has outlined lots of innovative ways to business and the pipeline project is one of them.
Gas complex
Another one of such innovations is the construction of Gas complexes in parts of the country.
The Gas complexes will be cited at Tema, Takoradi, Buipe and Kumasi.
The project will be constructed on Build, Operate and Transfer (BOT) basis.
The procurement process for its commencement would also begin soon.
The source said: “In all these due diligence is important that is why we don’t want to rush to do anything because the interest of Ghana is important,”
Source: Graphic.com. gh