Ghana Prioritizes Renewable Energy and Infrastructure Development
Ghana Prioritizes Renewable Energy and Infrastructure Development
Ghana Prioritizes Renewable Energy and Infrastructure Development
Ghana’s Deputy Minister for Energy, Richard Gyan Mensah, has announced the government’s plans to prioritize renewable energy forms, such as oil and gas, and invest in infrastructure development to maximize the value of hydrocarbon resources. According to Mensah, the government has implemented several reforms to facilitate exploration and production activities in the country.
Key Initiatives:
Exploration and Production Reforms:
The government has allowed exploration activities within development and production areas under existing petroleum agreements, eliminating the need for new agreements and streamlining the process.
Local Content Development:
Strategic alliances and channel partnerships have been introduced to enable expatriate companies to undertake short-term projects in Ghana, transferring knowledge to indigenous companies and accelerating local content development.
Petroleum Exploration and Production Policy:
An offshore and onshore petroleum exploration and production policy was passed last year to guide onshore oil and gas exploration and production in Ghana, adapting the production sharing system of contracting for onshore acres.
Investment Opportunities
Licensing and Partnerships:
Ghana is open for business, with vast unlicensed packages in offshore and onshore sedimentary basins available for licensing through direct negotiations, and partnership opportunities exist for data acquisition and farm-in arrangements.
Infrastructure Development
The government plans to construct three oil refineries, five petrochemical plants, and plant farms, with a 20,000-acre piece of land secured in the Western Region for these facilities.
Government Commitment
Basic Infrastructure
The government is committed to providing basic infrastructure, such as roads, water, electricity, and area development, to accelerate the growth of the energy sector.
Story by Fada Amakye from Daily Sun news paper
