Overview
In 2007, Ghana’s exploration agency, the Ghana National Petroleum Corporation announced the discovery of oil in commercial quantities off Cape Three Points in the Western Region. Oil and gas resources are vital to human kind as technological advancements have developed many valuable uses that promote economic well-being.
Perhaps no other industry taps a more diverse set of human, political, and technological capabilities than the oil and gas industry. The industry value chain represents the sequence of functions that occur from upstream exploration and exploitation to midstream transportation, refining or processing, to downstream retailing

Key Challenges
The challenges in the upstream industry can be grouped into three categories: technical, financial and environmental. These challenges must be addressed individually and collectively to ensure success of the exploration including areas of safety, concept designs, flow assurance and equipment reliability.

The production of oil and gas raises profound developmental issues in Ghana. One key issue is to structure initial contracts such that they benefit Ghanaians and support future exploration and production. It is also crucial to ensure that the money received from taxation of these upstream activities is used for the maximum benefit of the country.

Looking Ahead
For a country to obtain value from oil and gas prospecting, exploration and production, there must be effective government regulation; an enabling, conducive and stable environment with corresponding human resource capacity development.

The development of oil and gas industry should translate to improvement of infrastructure and human resource competencies in exposure, tutelage and technical partnerships. This should be complemented by enforcement of expatriates’ quota systems so that nationals can play significant roles, arranging specialized training where necessary of selected local personnel with expatriates for a specified period of time to acquire requisite skills, while empowering local contracting companies to facilitate participation in the petrochemical industry.

Socio-economic benefits and challenges are consequential to oil and gas development, and effective planning is vital to advancing favourable development outcomes. The employment opportunities directly related to construction and operation of oil and gas production and indirect spin-off jobs needed to support the sector in the areas of manufacturing, transportation, real estate, accommodation and catering, education and recreation, can create considerable economic stimulus and revenue. Ghana already has a no-flaring policy and efforts will be made to ensure that gas from the oilfields is made available for use in the downstream industries. Similarly, efforts shall be made to ensure the availability of bitumen in the construction industry.

Technical and human resource development is critical to a successful oil and gas industry. There will be several industries in the upstream and downstream sector, from manufacturing, supply chain to construction that would require the involvement of Ghanaians. The Institute will support Government to design a modern urban landscape in the Western Region to meet housing and real estate demands of the oil and gas industry.

 

Contact Us

OFFICE :Abwest Business Centre, Plot No. 87, Spintex Road
ADDRESS: P.O. Box CT 3583 Cantonments

  • Give us a call:233 0302 816 225
  • Send us a mail:info@infrastructureghana.org
  • Come visit us: Directions to our location
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