In an attempt by the Ministry of Energy to continue to position
Ghana’s energy sector favourably in the minds of investors for
strategic partnerships and economic growth, Deputy Energy Minister,
Dr. Mohammed Amin Adam on Friday told investors in Philadelphia to
invest in the energy sector.
He made this call when he addressed the people on behalf of sector
minister, Dr. Matthew Opoku Prempeh at US-Ghana EXPO
Roundtable B2B matching organized under the auspices of the USGhana Chamber of Commerce with support from Ghana’s Ministry of
Trade and Industry.
Dr. Amin said Ghana has a lot of untapped hydrocarbon resources,
both offshore and onshore, which the sector is seeking to explore
and exploit through partnerships with private companies.
“In Ghana, Exploration and Production (E&P) licenses are awarded
through open, transparent and competitive public tender processes.
However, E&P licenses may be awarded through direct negotiations
without public tender if direct negotiations represent the most efficient
manner to achieve optimal exploration, development and production
of petroleum resources in a defined area. Either way, prospective
contractors must have the requisite technical and financial abilities to
undertake petroleum activities,” he said.
The Karaga Member of Parliament also said Ghana aspires to
become a hub for refined petroleum products in the West African
sub-region and beyond, culminating in the establishment of the
Petroleum Hub Development Corporation (PHDC).
He said the hub will host infrastructure such as refineries, port
terminal facilities, storage facilities, petrochemical plants as well as
Liquefied Natural Gas (LNG) terminals with a network of pipelines. He asked investors to capitalize on the opportunity this
presents.
In the power sector, the Deputy Minister highlighted the plethora of opportunities in the renewable and nuclear spaces.
“The most important thing we want to do as a Ministry is to ensure the lights are for economic growth and, therefore, we ask
that you partner us strategically in the power value chain to ensure this,” he added.