OIL, GAS ROADSHOW IN CAPE COAST (MIRROR, PAGE 35, MAY 15, 2010)

From Joe Okyere, Cape Coast.

The Deputy Minister for Energy, Mr Emmanuel Armah-Kofi Buah, has stated that the government’s programme to pump oil from the Jubilee Field in the last quarter of 2010 is on course.
Under Phase One of the project, Ghana is expected to produce 120,000 barrels of oil per day and 120,000mmscfd of gas.
Phase Two starts in 2013 with 240,000 barrels per day and 240mmscfd of gas production.
Speaking at the Roadshow on Local Content on Oil and Gas in Cape Coast, Mr Buah said the construction of pipelines to convey gas to the proposed gas processing plant at Bonyere in the Western Region for the production of ethanol, propane and fertiliser have begun.
Mr Buah also said gas would also be piped to an existing power plant at Aboadze to generate electricity for the country.
He added that there were plans to build an industrial estate to house petrochemical and other industrial facilities and a mini-harbour, warehousing facilities, as well as storage tanks would also be required.
He hinted that a railway would also be required and that with the availability of gas as a cheap energy source, any industrial activity could take place within the area, adding that the prospects for both local professionals and investors were endless.
He also mentioned ancillary business activities like real estate, telecommunications, banking, insurance, weather forecasting, search-and-rescue services, transport and catering as some of the opportunity areas.
Mr Buah said the fascinating thing about this development was that the above–mentioned activities could be replicated in any part of the country as more oil and gas was discovered, especially in the Keta Basin.
He said Cabinet had approved the policy framework for local content and local participation in petroleum activities which were to be developed into legislation to ensure that Ghanaians obtain maximum benefits from the oil find.