Business News of Tuesday, 6 November 2018
Representatives from Ghana are taking part in this year’s Africa Oil Week, one of the continent’s leading upstream oil and gas gatherings, where leaders will make a case for investments in Ghana’s oil sector.
The forum, which opened yesterday in Cape Town, South Africa, will host more than 1,000 key players to share ideas and trends and explore opportunities for partnerships and investments.
The stage, which makes room for industry and country-focus presentations, had, in the past, served as a strong platform for marketing opportunities in Ghana’s oil and gas sector.
The five-day event is expected to bring together governments, national oil companies, investors, corporate players, independents and financiers – giving them a place to network, discuss and share knowledge.
Ghana’s delegation includes oil support service companies; the regulator, the Petroleum Commission; the national oil company, the Ghana National Petroleum Commission (GNPC); the Ghana National Gas Company, as well as representatives from the Ministry of Energy.
For keen technical minds from Ghana and the rest of the world, the Africa Oil Week provides the rare opportunity to learn more about the prospects of various geological basins of the continent.
Ghana is expected to tout its credentials at the forum.
These include political stability, commitment to the growth of the industry and key upstream petroleum drivers such as favourable fiscal terms, transparency, security and revenue-sharing options.
As Ghana continues to grow its oil industry and build reserves for continuous operation beyond the current fields, the Africa Oil Week and other platforms are very important for the country.
Among preparations required are a good technical profiling of the country and its oil and oil-related opportunities and a readiness to clearly position what the country offers investors and potential investors whose eyes other participating countries will be seeking to catch.
Prospects of the forum
Organisers said last year’s event led to numerous business transactions, with promises of more opportunities for the 2018 edition, including a dedicated content theatre for national oil companies (NOCs).