Government to conduct roadshow for oil and gas fields to attract more investors

Government will be embarking on a roadshow in some major oil and gas countries to expose investors to the heavy potential of petrochemicals in Ghana’s shores.The move is to attract more investors to take opportunities in the country’s oil and gas discovery.Petroleum Director at the Ministry of Energy, Kwame Ntow, disclosed this in a speech on behalf of the Energy Minister, Mathew Opoku Prempeh at the Society of Petroleum Engineers, SPE Conference and Exhibition on Ghana’s oil discovery.According to him, there are many geological reports that indicate potential oil fields along many of the coastlines that are yet to be explored.“I am confident that Ghana’s upstream sector will flourish despite the energy transition. And I also note that our current contribution to emission is much less than 3%”.“We have to leverage global energy demand to expeditiously develop our oil and gas resources in a sustainable manner. It is noteworthy that only one out of Ghana’s four sedimentary basins is being actively explored; the emphasis is on actively. Consequently, there are several unallocated acreages in the remaining three prospective basins which requires investments”, he pointed out.“So in the next few months, we’re going to be conducting roadshows in major oil capitals to ensure that we can bring the benefit or geological promise to the attention of prospective investors” he added.The Ghana Biennial International and Exhibition by SPE, focused on 15 years of oil discovery; lessons and future outlook.African Regional Director for the SPE, Oghogho Effiom, in an interview with Journalists made an appeal for oil producing countries in West Africa to collaborate effectively in charting a path for the energy transition.She believes there are enormous resources in Africa that can be put together to benefit the continent in the quest to move towards clean energy.In-coming president of SPE Ghana, Dr. Riverson Oppong, told Joy Business that the conference will be an annual culture of the society to deliberate on key issues regarding the extractive sector.