Latest news with #KempinskyHotel
Zawya
04-04-2025
- Business
- Zawya
Ghana's Petroleum Commission to Outline Investment Opportunities at Accra Investor Briefing
Striving to increase production and reverse natural declines in mature oilfields, Ghana is promoting new investment across its upstream oil and gas sector. The country – through national upstream regulator the Petroleum Commission of Ghana – is embarking on a series of industry reforms that aim to strengthen the operating environment for oil and gas companies. These efforts are expected to translate into heightened exploration, as companies pursue play-opening discoveries in Ghana's on- and offshore market. The Petroleum Commission of Ghana will outline the country's exploration opportunities during the Invest in African Energies: Accra Investor Briefing – taking place April 14, 2025, at the Kempinsky Hotel. Victoria Emeafa Hardcastle, CEO of the Petroleum Commission, is speaking at the event, sharing insight into regulatory reforms, untapped exploration prospects and strategies being implemented to bolster production. A prelude to the African Energy Week: Invest in African Energies conference - scheduled for September 29 to October 3 in Cape Town – the event will lay the foundation for future deals, supporting Ghana's broader industry objectives. With 17 oil and gas projects scheduled for development by 2027, Ghana is making strides towards unlocking its 1.1 billion barrels of crude reserves and 2.1 trillion cubic feet of gas. The Petroleum Commission regulates and manages the utilization of petroleum resources in Ghana, coordinating policies across the country's upstream sector. Both existing and new policies are expected to support industry growth, particularly in emerging sectors such as natural gas. Notable policies include the Gas Master Plan, a framework for investing in the country's gas value chain. The plan outlines a development strategy through 2040, incentivizing capital and technology deployment by offering clear terms and objectives. The plan has already incentivized major projects. The Tema FLNG project, for example, is under development in Accra. The facility comprises the requisite infrastructure to import, store, re-gasify and deliver LNG to off-takers in the Greater Accra Area. Operated by Helios Investment Partners, the $350 million plant has a capacity of 1.7 million tons of gas per year. Additionally, the Atuabo II Gas Processing plant – an expansion of the operating Atuabo facility – is on track for production in 2025. The second phase has a capacity of 150 million standard cubic feet per day (mmscf/d), with opportunities to increase output two-fold, reaching 300 mmscf/d in future phases. The plant will be capable of producing propane, butane and pentane condensates and is being built at a cost of $700 million. In the oil sector, the Petroleum Commission continues to attract investments in exploration, promoting undeveloped blocks in both on- and offshore basins. Following the success of the country's biggest oilfields – Jubilee and TEN – the country is inviting partners to unlock the potential of adjacent blocks. Engagement with global partners and regional firms have already begun to yield positive results. Tullow Oil brought three new wells onstream at the Jubilee South East project in Q1, 2024, and will drill one producer and one injector well at the Jubilee field in 2025. The company is also advancing a 4D seismic survey at both Jubilee and TEN. Additionally, the Ghana National Petroleum Corporation will drill an exploration well in the Voltaian Basin in 2025. 'Ghana's approach to developing its oil and gas industry must be commended. The country is not only instituting reforms in tax and policy, but working closely with international operators to strengthen the attractiveness and competitiveness of their investments. Policies such as the Gas Master Plan stand to transform the country from an oil-reliant market into a diverse and integrated economy,' stated NJ Ayuk, Executive Chairman, African Energy Chamber. Distributed by APO Group on behalf of African Energy Chamber.
Zawya
03-04-2025
- Business
- Zawya
Ghana's Petroleum Hub Development Corporation (PHDC) Joins Accra Investor Briefing Amid Efforts to Establish Integrated Petroleum Hub
Dr. Toni Aubynn, CEO of Ghana's Petroleum Hub Development Corporation (PHDC), has joined the Invest in African Energies: Accra Investor Briefing – taking place on April 14, 2025 at the Kempinsky Hotel – to discuss the country's progress towards becoming an integrated petroleum hub in West Africa. During the event, Dr. Aubynn will outline development strategies, investment avenues and petroleum market trends, underscoring the value of investing in Ghana's growing oil and gas value chain. Expecting to launch 17 oil and gas projects by 2027, Ghana is prioritizing investments across the entire hydrocarbon value chain to meet rising domestic demand, increase revenue generation and unlock greater value from the petroleum sector. Strategically located and with over 1.1 billion barrels of proven oil reserves and 2.1 trillion cubic feet of natural gas, the country is well-positioned to become a regional hub for petroleum. Ghana's PHDC strives to position the country as an integrated hub in West Africa. Established under the Petroleum Hub Development Corporation Act, 2020, the company promotes the development of a petroleum and petrochemical hub in Ghana, leveraging innovative technology to develop a value chain that create economic linkages and provides business opportunities for Ghanaians. In August 2024, the PHDC and a consortium of private partners broke ground on the development of the first phase of a $60 billion downstream petroleum hub. The hub represents the first of its kind in West Africa and will be developed across three phases between 2024 and 2036. The first phase – at a cost of $12 billion - comprises a 300,000 barrel per day (bpd) refinery; a 90,000-bpd petrochemical plant; storage tanks with a total capacity of three million cubic meters; a jetty; and marine port infrastructure. Phase one is situated across 6,590 acres in the Jomoro municipal district. Following its completion, the integrated hub will have the capacity to process 900,000 bpd of crude across three 300,000-bpd refineries. Each refinery has the potential to be expanded to 500,000 bpd, targeting an overall production capacity of 1.5 million bpd. Additionally, following the completion of all three phases, the hub will feature five multi-purpose petrochemical plants with a production capacity of 90,000 bpd each. The plants will produce chemicals such as fertilizers, lubricants and cosmetics, utilizing natural gas as feedstock. Phase 1 will include the development of one petrochemical plant while the second and third will see two plants constructed each. The integrated hub showcases the value of public-private partnerships in advancing large-scale oil and gas projects in Africa. Spearheaded by the PHDC, the hub is supported by global and regional partners, including Touchstone Capital Group Holdings, UIC Energy Ghana, China Wuhan Engineering and China Construction Third Engineering Bureau. 'Ghana's integrated petroleum hub should serve as a benchmark for other resource-rich nations in Africa. This innovative project is poised to become a strategic catalyst for economic growth – both in Ghana and across the broader region. The hub will create jobs, increase petroleum distribution, promote skills development and position Ghana as a central point for petroleum production in Africa. The hub is a testament to the role public-private collaboration can play in advancing African oil and gas projects,' stated NJ Ayuk, Executive Chairman of the African Energy Chamber. The Invest in African Energies: Accra Investor Briefing in April offers a strategic opportunity for the PHDC to not only provide an update on the development of the hub, but showcase associated investment opportunities. The integrated hub is a large undertaking, requiring significant levels of finance and technological expertise. Investors will have the chance to gain first-hand insight into the PHDC's ambitions in Ghana, laying the foundation for new deals to be signed. Distributed by APO Group on behalf of African Energy Chamber.
Zawya
03-04-2025
- Business
- Zawya
Ghana Oil Company (GOIL) Chief Executive Officer (CEO) to Speak at Accra Investor Briefing as Ghana Targets Enhanced Fuel Security
Targeting enhanced fuel security, Ghana is driving the development of its downstream oil and gas industry, with advancements in liquefied petroleum gas (LPG), distributed fuel products and aviation fuels. The country's state-owned oil and gas marketing company Ghana Oil Company (GOIL) plays an instrumental part in strengthening the downstream sector. Edward Abambire Bawa, Group CEO and Managing Director of GOIL, is speaking at the Invest in African Energies: Accra Investor Briefing on April 14 at the Kempinsky Hotel. The event is a prelude to the African Energy Week (AEW): Invest in African Energies 2025 conference – taking place in Cape Town from September 29 to October 3 – and will showcase Ghana's extensive oil and gas opportunities, from upstream exploration to midstream infrastructure to downstream distribution and investment opportunities. With ambitions to increase oil production through the expansion of upstream fields, Ghana also strives to enhance its downstream industry, with aims to reduce petroleum imports by scaling-up domestic infrastructure and distribution. At the helm of this ambition is GOIL, which is already renowned for its diverse product offerings and extensive distribution network. This includes a vast network of fuel stations across the country; strong partnerships with global and local stakeholders in the energy sector; and ongoing investment in infrastructure, innovation and sustainable solutions. The company is also one of the leading suppliers of jet fuel at Ghana's Kotoka International Airport, Takoradi Airforce Base and Kumasi Airport. In collaboration with partners, the company also offers jet fuel for export worldwide. Recent developments underscore GOIL's commitment to expanding its distribution infrastructure. In February 2025, the company opened its third service station in Berekum in the Upper Middle Belt Zone; in August 2024, it reintroduced super XP onto the market; and in February 2024, it opened Autogas stations in five regions nationwide. Additionally, in partnership with Ivory Coast's Societé Multinationale de Bitumes, GOIL inaugurated a bitumen terminal and production plant in Tema in September 2024. The $40 million facility has a production capacity of 7,500 metric tons and will produce polymer modified bitumen and bitumen emulsions. The facility also features a laboratory for testing the quality of products as well as storage options. The facility is expected to meet the demand of the country's road construction sector, reducing the import of bitumen products in Ghana. These developments highlight the company's commitment to expanding infrastructure to support the growing demand for petroleum products in Ghana. Stepping into this picture, the Invest in African Energies: Accra Investor Briefing offers an opportunity for the country's state-owned enterprises such as GOIL to share updates on major projects, upcoming investment opportunities and strategic areas of collaboration. During the event, Bawa will share insights on GOIL's strategic initiatives to enhance the nation's oil and gas infrastructure, underscoring the critical need for increased investments across the entire energy value chain to bolster Ghana's economic growth and energy security. 'GOIL continues to make significant strides toward strengthening the entire oil and gas value chain in Ghana. With a commitment to enhancing domestic fuel security and reducing imports, the company is looking at working more closely with international partners to modernize energy infrastructure, boost petroleum product distribution and scale-up capacity building across the downstream sector. GOIL's projects and forward-looking development strategy exemplify the proactive steps needed across the country to attract investment and enhance the value chain,' stated NJ Ayuk, Executive Chairman, African Energy Chamber. Distributed by APO Group on behalf of African Energy Chamber.
