Saturday 3 December 2011

Business opportunities in Ghana's oil industry

Ghana pumped its first commercial oil in December 2010 after the discovery of the offshore Jubilee Field three years ago. An estimated 1 billion barrels of oil and 800 billion cubic feet of natural gas could be sold over the next quarter century, according to government estimates. The ministry of energy forecasts that production at Jubilee will quickly rise to 250 000 barrels per day by the end of 2011.

Two more offshore oilfields, Enyenra and Tweneboa, have been identified and could produce between 75 000 and 125 000 barrels per day when the taps begin running in 2014. With the first pump, the needs of the oil industry extended from supply vessels, pipelines, storage tanks, refineries, power stations, transmission grids to public utilities, financial and hospitality services. The port city of Takoradi is home to Ghana’s oil industry and many people see the region as one of most lucrative business opportunities on the continent. Takoradi Harbour is the nearest commercial port to the Jubilee oil fields.

Click here for further details on this opportunity or visit www.tradeinvestafrica.com for more investment opportunities.

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