Ghana’s oil and gas industry continues to evolve and grow at a steady and promising rate, rife with opportunities for the country and investors.
In the last two decades, significant E&P activities have been carried out in the Western (Tano -Cape Three Points) Basin resulting in 30 offshore discoveries. Some of these discoveries have been developed as the three offshore fields (Greater Jubilee, TEN and Sankofa-Gye Nyame Fields) which are currently in production. The remaining discoveries are yet to be developed.
In contrast, limited E&P activities have been undertaken in the Central (Saltpond) Basin, the Eastern (Accra-Keta) Basin, and the Voltaian Basin despite their projected petroleum prospectivity.
Indeed, the slow pace of exploration and new field developments in Ghana’s Sedimentary Basins (due to factors such as global oil price drop, Ghana-Cote D’Ivoire maritime boundary dispute, COVID-19) has affected investments and growth in local content in the industry.
However, Government’s objective is to use its petroleum resources to rapidly accelerate growth and industrialisation through active participation of Ghanaians and Ghanaian businesses, which is largely dependent on the level of activities in the industry. In the wake of energy transition and emerging global trends, it is imperative that the country stimulates E&P activities through enhanced investment to sustain local content development.
The session will discuss the prospectivity of Ghana’s sedimentary basins, strategies to attract investment and enhance E&P activities to sustain local content development.
