Recent oil and gas discoveries in ghana present a unique opportunity to boost economic growth and increase the prosperity of its people. Being one of the regions oldest upstream sectors its first exploration in 1860 and commercial production in 1909 egypts a mature oil and gas. View local content in oil and gas industry research papers on academia. Ghanas upstream industry petroleum commission ghana. This study was undertaken to investigate the safety practices in the oil, gas and related energy industries in ghana with a view to ascertain if the industry has the wherewithal to handle the new developments in the industry. A look into ghanas oil and gas industry news ghana. Table 2 outlines the consumption of electricity per head in the region. Ghana s first commercial oil lifting took place in january 2011 and in the period since then to april 2011, 4. Oil and gas tax guide for africa 2017 3 over the past few years, the global economic downturn in the oil and gas industry has had negative effects that have been felt by many.
Ghana is one of africas new oil and gas producing nations. Pdf on jan 1, 20, john kwadwo oseitutu and others published a study of ghana s oil and gas industry local ghanaian content policy process find, read and cite all. After the discovery of oil and gas in commercial quantities in 2007, ghana took steps to ensure a successful oil and gas. Local content refers to the quantumpercentage of locally produced materials, personnel, financing, goods and services rendered to the oil industry and which can be measured in monetary terms local participation refers to the level of ghanaian ownership in the oil and gas industry. Pdf on jan 1, 20, john kwadwo oseitutu and others published a study of ghana s oil and gas industry local ghanaian content policy process find, read and cite all the research you need. Further, the growth and industry conditions in the ghana market are assessed in comparison to regional oil. Analysis of the current problems of russias oil and gas industry in the context of the main trends of global oil and. It is well known that the level of electrification in subsaharan africa is very low. Ghana is an up and coming player in the oil and gas industry with operations in the upstream exploration and production, midstream, and downstream sectors. Strategic planning for the oil and gas industry edinburgh business school vii 7. This paper examines ghana s petroleum industry, its.
Typical offshore oil and gas value chain 104 figure h. Common health, safety and environmental concerns in. At the end of 2008, a new discovery of oil and natural gas deposits with an expected 800 million barrels of oil was also announced. Enhancing the benefits at the subnational level policy framework prepared for revenue watch institute october 2012. In 2007 ghana launched its entry into the league of resource rich countries with the announcement by the president of the discovery of oil and gas in commercial quantities offshore at the cape three points, near its international border. The contractor has identified the ghana oil company limited goil as its indigenous partner, in line with the local content legislation. Safety practices in the oil and gas industries in ghana. Ghana national petroleum corporation, ghana s upstream oil and gas industry. The country remains a small producer in the gulf of guinea with current output at 126 000 barrels of oil per day bopd. Their subcontractors include schlumberger, baker hughes, weatherford, ocean rig and technip. Daily oil and gas production in ghana until 2030 92 figure g. The upstream oil and gas activities in ghana consist of exploration, development and production of oil and gas.
The first two chapters of the report feature the country profile by giving general information on ghana and by thoroughly. The oil and gas is further segmented by type and in addition to overall market forecast, the report provides forecasts for oil and gas by type. Healthy commercial crude oil inventories in oecd countries, standing at 2. An initial assessment article pdf available october 2018 with 3,974 reads how we measure reads. Analysis of risk management practices in the oil and gas. It is further reported that the value of services to be demanded by the oil industry. A survey of the literature on local content policies in the oil and gas industry in east africa chilenye nwapi summary although oil and gas exploration has been going.
Oil and gas is big business in ghana and it is only getting bigger. Mid and downstream means every sector of the oil and gas industry. A second company to ghana s oil exploration is tullow ghana limited tullow. However, with the impending commencement of crude oil production in the last quarter of 2010, ghana s oil and gas industry can now be categorized into the upstream and. As supply increases and oil prices rise, volatility will continue to drive strategy. Oil and gas production and the growth of ghana s economy. Egypt is the largest nonopec oil producer in africa and the continents second largest gas producer after algeria. Pdf oil and gas production and the growth of ghanas. These activities are undertaken in five sedimentary basins within ghana. Opportunities for gas in subsaharan africa subsaharan. Key countries and opportunities in africas oil and gas. Case study of tema oil refinery tor risk management refers to an interactive process consisting of steps, which when undertaken in sequence, enable continual improvement in decision making.
The first two chapters of the report feature the country profile by giving general information on ghana and by thoroughly studying its economic state, including key macroeconomic indicators and their development trends. What is the evolution of the oil and gas industry in ghana to date, and what are ghana s short to medium term energy policy priorities. Local content in oil and gas industry research papers. Estimating the effects of the development of the oil and gas sector. Key evolving questions for the upstream oil and gas sector 1. This paper examines ghana s petroleum industry, its steady growth, and its initial challenges, such as the maritime border dispute and political interventions. To this effect, in 2010, a coherent policy was developed to regulate the nascent oil and gas industry. Rental of various oilfield equipment and services to the oil industry in ghana and other west african countries. Nine production wells bring the oil and gas from below ground to the surface. In 2007 ghana launched its entry into the league of resource rich countries with the announcement by the president of the discovery of oil and gas in commercial quantities. According to the gnpc 20, the first natural gas discovery in ghana was in 1973, around the offshore cape three points by zapata oil company limited. Ghana s oil and gas industry continues to attract key global industry.
Mid and downstream means every sector of the oil and gas industry in addition to the actual exploration and production. Background oil exploitation in ghana began as far back as 1896 by the west african oil and fuel company. What are the key barriers to investment in the oil and gas industry, and what policies and institutional frameworks should be adopted to scale up investments in the current oil. A minor find was made in 1970 in the saltpond field in eastern ghana. A minor find was made in 1970 in the saltpond field in eastern ghana and some 3. Pdf on jan 1, 20, john kwadwo oseitutu and others published a study of ghanas oil and gas industry local ghanaian. Analysis of risk management practices in the oil and gas industry in ghana. In ghana, petroleum products account for about 26% of total energy consumption ministry of energy, 2010 and about 70% of ghana s commercial energy needs oil and gas in ghana. Overview of the oil and gas industry in ghana ghana. Takyiwa 2014 has classified the history of oil exploration in ghana. Total natural gas exported from the jubilee field to the atuabo gas processing plantwas 1,906. The prospects for natural gas in the region are not just dependent on displacing oil in the generation mix.