Chief Executive Officer of Ghana National Petroleum Commission (GNPC), Dr. Kofi Kodua Sarpong has hinted of plans by GNPC to venture into the production of fertilizer, ethanol and other petrol chemical products.
The reposition of GNPC , he said, will need the participation of private investors in the implementation of these ventures.
He disclosed this at a durbar organized by ENI, Vitol and GNPC; stakeholders of Sankofa fields which hosted the President Nana Akufo-Addo, who officially launched and symbolically turned the valve on the Floating Storage and Offloading (FPSO) named after Ex–president John Agyekum Kufuor, stationed at Ghana’s Offshore Cape Three Points (OCTP) on Thursday.
Chief Executive Officer maintained that the production of more gas is also capable to set a stage to promote Ghana’s petrol chemical industry.
He also announced that the Sankofa Gye Nyame fields have great potential to produce more gas which can result in cheaper electricity tariff for Ghanaians.
In their quest to discover more oil, Dr. Sarpong also said, GNPC is embarking on exploration exercise within the Voltaian Basin which stretches to Eastern, Ashanti, Northern, Brong Ahafo and Volta regions.
He argued that the Voltaian Basin will be a game changer in the country’s oil and Gas industry. In this regard, he appealed to the President to employ his executive powers to facilitate the necessary approval to check procurement challenges prolonging the project.
CEO of Vitol Group, Lan Taylor reminiscing oil discovery in Ghana during Kufour’s administration stated that government of Ghana and GNPC have the vision to ensure the utilization of the country’s resources towards economic development. Vitol Group, with a stake of 35.56% in the Sankofa fields is an oil business entity which trades and distributes energy products globally.
On his part, the CEO of ENI, Claudio Descalzi described ENI’s investment in Ghana’s oil and gas industry as a special and large project. According to him, ENI came on board at a bizarre period of the world’s drilling project which compelled most companies to cease drilling.
He emphatically indicated that ENI has come this far due to its belief in the project and in Ghana.
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