Investors Confident in Ghana

Mawuena Trebarh Mawuena Trebarh The Chief Executive Officer (CEO) of Ghana Investments Promotion Council (GIPC), Mawuena Trebarh insists foreign investors have firm belief in Ghana’s democracy. Foreign investors, she said, are ready to transact business in the country. Investors are reluctant to do business in African countries, including Ghana due to fears of political instability. However, Mrs. Trebarh said investors see Ghana as a stable democracy. Explaining further, she said the number of investors that transacted business in the country increased sharply in 2008 and 2012, which were election years. Ghana over the years has proven to the international community that it is a safer place politically, socially and economically, she said. “This remarkable achievement has heightened interest among foreign investors in transacting business in the country.” Mrs. Trebarh, who was appointed in February 2013, disclosed this while interacting with some selected media personnel in Kumasi over the weekend. She seized the opportunity to share her vision with them. The CEO of GIPC said she would work to boost Ghana’s image as a country on the international stage to woo more investors. She noted that she would work assiduously to strengthen key areas. Mrs. Trebarh noted that plans were far advanced to spread investments across the country so that more people would benefit. She said GIPC would develop a database to showcase the operations of local investors to the world. Mrs. Trebarh said she would invite investors to invest in Ghana’s health sector, adding that the assemble of medical equipment in the country by foreign investors was being considered. Mrs. Trebarh called for total support from all and sundry to develop the country.

Ghana Oil to double out put production

Ghana Oil Output to More Than Double by 2021 With New Fields Africa ’s second-biggest economy, expects oil production to more than double to 250,000 barrels a day by 2021 as output rises at the Jubilee field and other sites start pumping. The country has new crude discoveries at different stages of appraisal and development, Nana Boakye Asafu-Adjaye, chief executive officer of the state-owned Ghana National Petroleum Corp. known as GNPC, said in an interview in the capital, Accra, yesterday. At the Tullow Oil Plc-operated Jubilee field, 60 kilometers (37 miles) off Ghana’s western coast, output has averaged 110,000 barrels a day over the last three months, he said.Enlarge image Ghana Oil Output to More Than Double by 2021 With New Fields Oil displaced cocoa as Ghana’s second-most valuable export in 2012, with shipments worth $3 billion, according to the central bank. Photographer: Pius Utomi Ekpei/AFP/Getty Images In the next “five to eight years we will be spending $20 billion” to develop Jubilee and other discoveries, Asafu-Adjaye said. Jubilee, which started output in December 2010, is Ghana’s lone crude-exporting oil field. Nigeria, Africa’s biggest oil producer, pumped 1.8 million barrels a day in March. Oil displaced cocoa as Ghana’s second-most valuable export in 2012, with shipments worth $3 billion, according to the central bank. Gold remains the country’s top foreign-currency earner.Kosmos Energy Ltd. (KOS)  also has a stake in the Jubilee field, while Tullow, Kosmos and Anadarko Petroleum Corp. (APC)  are developing the Tweneboa-Enyenra-Ntomme, or TEN, project. “First oil from TEN could be in late 2016,” Asafu-Adjaye said. The site may have reserves of 245 million barrels and peak daily production is forecast at 76,000 barrels, he said.Onshore Exploring GNPC is also pushing exploration in the onshore Voltaian Basin which stretches from the south to the northern part of Ghana and covers about 40 percent of the country, Asafu-Adjaye said. “We have conducted field mapping and site surveying of selected locations for slim hole drilling,” he said in a speech yesterday. In 2011, GNPC received geophysical data on the region. Tullow’s shares fell 0.9 percent to 1,037 pence in London yesterday, bringing the decline this year to 18 percent. source: bloomberg

Mantrac Ghana ( Caterpillar

Mantrac Ghana, the sole authorized dealer for caterpillar products and services, is stepping up efforts to enhance service delivery in the oil and gas industry. On the sidelines of the Ghana Oil and Gas Summit in Accra, Emad Adeeb, Managing Director, Mantrac Ghana, explained that “in the oil and gas sector productivity goals are challenging as the conditions; so much depends on how well your engines stand up to these challenges, whether you are drilling or transporting products. CAT gas and diesel engines deliver superior performance and efficiency with unparallel reliability.” He said with Ghana’s oil production expected to rise to half a million barrels a day over the next decade, Mantrac is ready to offer a wide range of Customer Support Agreements to ensure the comprehensive maintenance and repair of equipment, periodic field inspections and precise technical recommendations that will keep machines running at maximum productivity. With decades of experience in power solutions for the oil and gas industry, Mantrac Ghana is backed by strong technical expertise and a deep understanding of local markets. “To make it even easier, we provide our customers with Manbiz, our online parts store through this web-based tool, you can check parts pricing and availability at anytime; you can also create quotation, send us a purchase order and we can process your order.” “Our spare parts are easily available throughout our strategically located branches, parts availability exceed 90% with a fast and reliable emergency back-order service,” he remarked. Mantrac Ghana also operates a network of branches in Accra, Kumasi Tarkwa and Takoradi, the hub of Ghana’s oil and gas industry.  A business desk report

Kosmos Water Project

Kosmos Water Project Kosmos Energy working with the government and Safe Water Network have completed work on a $500,000 Modular Ultra Filtration water treatment plant for five communities in the Ellembelle and Jomoro districts of the Western Region. The project will provide a minimum of 100,000 litres of potable water per day for distribution to the communities of Beyin, Ngelekazo, Ekebaku, Nzulezo and Atuabo. Officials of Kosmos Energy Ghana said the second phase of the project would see water delivered to more than 30,000 people, hospitals and educational institutions in other communities. Mr Ken Keag, the Vice President and Country Manager of Kosmos Energy Ghana, said the company’s desire went beyond providing water. He said community collaboration and understanding of the need for the project was key to enhancing the success of the initiative. “It’s a great privilege for Kosmos Energy to work alongside these communities, to support them in developing the skills necessary to own and operate these systems for the long term,” he said. Mr Keag said the construction, which started in November 2012, was a service to communities along the River Amanzuri basin – Beyin and Atuabo, which face significant water challenges. He said in addition to the plant, pipeline extensions were laid to allow easy access to smaller villages such as Ngelekazo and Ekebaku. “A second phase of the initiative which will continue in the latter part of 2013, will also provide clean water to other communities around the River Alehyiale basin,” he said. Mr Kurt Soderlund, the Chief Executive Officer of Safe Water Network, said the organisation was happy to work with Kosmos Energy Ghana to improve the health and livelihoods of communities by building local capacity and capability to own and manage their water systems. “Our partnership includes refining this approach so that it can be broadly replicated throughout Ghana for the millions still without safe water access,” he said. The Paramount Chief of Western Nzema, Awulae Annor Adjaye II and the Deputy Western Regional Minister, Mr Alfred Ekow Gyan, commended Kosmos Energy and its partners for the initiative and support to the community. They assured the company that the communities would take good care of the facility.

link oil industry to other sectors

Link oil industry to other sectors - * Stakeholders at an Oil and Gas forum held on Tuesday in Accra have called for linkages between the oil and gas industry and other sectors of the economy to trigger equal growth of all the economic sectors. The forum noted that such linkage would help Ghana to avoid the “Dutch Disease” menace that pushed Nigeria to abandon all other sectors of the economy leading to their collapse eventually because of the over reliance on the oil sector. The public forum was organized by the Integrated Social Development Centre (ISODEC) for various civil society organizations, private sector, state agencies and researchers to discuss the likely economic impact of the oil and gas sector in Ghana. It was on the theme: “Enhancing Stakeholders knowledge on the Economy-wide linkages of Ghana’s Oil and Gas Sector for poverty Reduction”. The Executive Director, ISODEC Bishop Akologo said the forum was to help learn how the oil economy worked and map out possible linkages that politicians and various actors could adopt and implement to ensure a level playing field for all other sectors. According to him, the expectation was that every “player” would understand the linkages and play its parts in the sector to help improve the quality of life of Ghanaians. The Chief Executive officer, Sync Consult, a Management and Financial Services organization, Bennet Kpantey, said the salt industry could for instance be expanded to ensure that Ghana produced enough salt for commercial and industrial use, especially to feed the oil industry, which was among the highest consumer of salt in the world.

Growth on aviation

Ghana discovers more gas