Ghana is an emerging oil and gas producing country with “enormous potential,” says Alex Mould, chief executive of Ghana National Petroleum Corp. (GNPC). “We are looking for joint ventures and strategic alliances.” Mould made his comments at the recently held Offshore Technology Conference.
The current low oil price is creating a “season for risk takers,” he says. “Everyone in this industry is in it for the long haul.”
To date, Ghana’s success can be attributed to its international oil company (IOC) partners, says Mould. Currently, the country is looking for partners to develop its stranded oil and gas reserves, and is also looking for investors to help develop the country’s power-generation projects. Also, Mould would like IOCs to partner with Ghana in joint ventures to develop liquefied natural gas export facilities along its coastal region.
Similar to Brazil’s state-owned company, Petrobras, GNPC is looking for companies to adhere to its local-content hiring regulations to promote job growth and employment in Ghana. “We are looking for local-content development to maximize participation in the value chain,” says Mould. “Local-content guidelines promote social and economic gains, as well as efficiencies and cost savings, for all partners. We are looking for more success stories like our partnerships with Tullow Oil and Kosmos.”
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