Ghana: GNPC Allocates US$10 Million For Petroleum Hub Project

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Ghana’s national oil company, GNPC, is said to have released an amount of US$10 million for the acquisition of land and related expenses for the government’s intended regional oil services hub in the Western Region.

This is contained in the governing New Patriotic Party’s 2020 Manifesto titled: ‘Leadership of Service, Protecting Our Progress and Transforming Ghana For All’.

The Akufo-Addo-led New Patriotic Party (NPP) administration promised in their 2016 Manifesto to establish a picture of hub in the Western Region to serve the West African subregion.

However, that vision could not be fully actualised, but energynewsafrica.com confirm that plans are far advanced for the realisation of the project.

Our sources from the Ministry of Energy indicate that the Deputy Minister for Energy in charge of Infrastructure and MP for Effia, Joseph Cudjoe, recently, led a delegation from the Ministry to visit chiefs and elders of the area where a land had been acquired for the petroleum hub project to be established.

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Speaking at the unveiling of the 2020 Manifesto of the governing NPP in Cape Coast in the Central Region, a Deputy Minister for Energy in charge of Petroleum, Dr Mohammed Amin Adam revealed that a bill establishing the Petroleum Hub Corporation to be responsible for the project is currently under parliamentary consideration.

“We will pursue relevant reforms in the upstream petroleum sector and provide incentives for the revival of exploration activities after the COVID-19 pandemic,” he said.

The petroleum hub project will have, among other facilities,four new oil refineries each with a capacity of 150,000bpd, storage tanks for crude and finished products, two oil jetties, two petrochemical plants with processing capacity of 45,000bpsd each, as well as waste and water treatment plants.

It is estimated that 780,000 jobs would be created when the project commences and completed.

Source: www.energynewsafrica.com

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