Business is good in Ghana

 

The other names for Ghana could be “simplicity, hospitality and orderliness”.  The former Gold Coast that became a significant oil producing nation in Africa when it produced First Oil off Jubilee Fields in November, 2010, has continued to showcase itself as an epitome of renaissance Africa in both business and politics. This burgeoning orderliness, decency and transparency that exude in Ghana have made the country to become an attractive investment zone in Africa. Simply put, business is good in Ghana.

 

Oil was first discovered in Ghana in commercial quantity at the Jubilee field in June 7, 2007 by the joint venture that includes Tullow Oil, Kosmos, Anadarko, E & O Company, Sabre and GNPC.  It is estimated that Jubilee field which is very close to the borders of Ghana and Ivory Coast has proven reserves of between 800 million – 1 Billion barrels of oil and 120mmscf/day of associated gas

Even as Ghana stepped in to the league of oil producing nations in Africa, the country has continued to push to increase production through capacity building and also maintaining  high degree of transparency. Amid the plunging oil price, Ghana has also remained afloat through a diversified and orderly economy while looking for strategies to boost its reserves and to utilize the oil revenue carefully in developing the country.

 

Michael Aryeetey, the Chief Operating Officer of GNPC’S new Exploration and Production subsidiary “Explorco”. GNPC established Explorco in 2012 to pursue commercial stakes in selected E&P projects and through enhanced partnerships to accelerate GNPC’s strategic drive towards independent operatorship; will be presenting a keynote paper in the 9th Annual Sub-Saharan Africa Oil & Gas Conference scheduled for April 27 -28, 2016 at the Marriott Westchase Houston. Aryeteey’s paper will focus on:  GNPC E & P Company’s strategy for growing its technical capabilities and maximizing benefits from current offshore assets.

 

Michael Aryeetey

Chief Operating Officer

Explorco, GNPC

Also coming big from Ghana among confirmed keynote presenters is Kyeretwie Opoku, Board Chairman of Explorco, GNPC.  Opoku is a Ghanaian lawyer who has over the last 30 years moved seamlessly between the worlds of legal and policy consulting and of social and political activism.  Most of his professional work has been in the areas of natural resource development and governance.  In the 1980s he worked in the UN Centre on Transnational Corporations and the Commonwealth Secretariat’s Technical Assistance Group advising developing countries on petroleum and mining investment regimes.  He worked also as Special Assistant to the Executive Chairman of the Ghana National Petroleum Corporation in the mid 80s to early 90s.  In the 1990s he co-founded Law Trust Company a successful Ghanaian legal firm.  He has served on the Boards of SSNIT (Ghana’s national pension fund) and International Commercial Bank. He currently also serves on the Board of Airtel Ghana Ltd.  He has also been active in civil society in Ghana and internationally on issues of forest rights and climate change.

He is currently a director of the Ghana National Petroleum Corporation and he is also a director of Quantum Power Ghana Gas Ltd, a company developing an integrated LNG delivery system that will allow power generators and industrialists in South East Ghana to utilize LNG as part of their fuel solution.

It is also expected that Alex Kofi-Mensah Mould, the Chief Executive Officer of GNPC will also participate in this unique conference.

 

 

Kyeretwie Opoku
Board Chairman

Explorco, GNPC

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