Overview of the oil and gas industry in ghana pdf

The oil and gas industry natural resource governance. In ghana, petroleum products account for about 26% of total energy consumption ministry of energy, 2010 and about 70% of ghanas commercial energy needs oil and gas in ghana overview, 20. Petroleum online consists of 18 courses that explain the dynamic drivers of the business of oil and gas through the upstream, midstream, and downstream sectors. And the misunderstanding appears to be at the highest levels of our civilpublic services. There are many ways to look at the oil and gas industry. 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. Challenges in value addition within ghanas petroleum industry11 in 20, following the discovery of commercial quantities of oil and gas in what is referred to. The oil, gas, and chemicals sector is renowned for technology and innovations. Regarding the literature on the oil and gas sector in ghana, earlier. Ghanas current account in the first half of 2019 was estimated at a surplus of 0. Gas detection, monitoring and analysis, pressure evaluation and. Is your organization prepared for the uncertainties, risks, and opportunities ahead. The note is intended to provide an overview for those advising on the financing of projects in the oil or gas industries, or to those who are seeking to understand the typical structures and risks involved in. In addition there are eight drillings to inject gas and water.

Our goal is to provide a cleareyed roadmap to understanding the oil and gas industry and evaluating the opportunities and potential risks realistically. Tullows second major discoveries and subsequent development in ghana is the ten field. The oil and gas industry is the largest sector in the world in terms of dollar value. Recent industry accidents, legal battles, means this multibillion dollar industryyp must operate within a relativelyyp transparent and stable environment. Ghanas upstream industry petroleum commission ghana. For it to be the fuel that can go into a car or converted into plastics, it must go through a. Pdf evolution, challenges and prospects of the oil and.

Refining what comes out of the ground is not often a form of petroleum that can be used right away. And as always, uncertainty is the only real certainty. An observation to be made about the development of ghanaian content is tha. This is reflected through the nigerian government initiative of increasing local content and ensuring that indigenous companies have a greater part in. In 2007, the jubilee oilfield was discovered, and it is containing up to three billion barrels. An overview of the nigerian oil and gas industry local content initiative. Introduction ghana was the first subsahara country to gain independence 1957. Attempts by gnpc to independently assess and take advantage of oil and gas resources in the. After the discovery of oil and gas in commercial quantities in 2007, ghana took steps to ensure a successful oil and gas regime. Ghanas petroleum industry, though relatively young has been touted as.

In this context the degree of domestication of the industry in ghana will remain a moot. Steady growth in ghanas petroleum industry kosmos energy discovered commercial quantities of oil and gas in ghana in 2007. 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. Now, opportunities include the whole suite of digital technologies and could touch all aspects of the supply chain. There is big money in oil and gas compared to the size of the economy. Ghana oil and gas market, size, share, outlook 2020 to 2026 is a premium market research report focusing on factors driving and challenging the industry, market trends, recent industry developments, key players analysis, market share, size, forecast, segmentation, business profiles of leading companies. Nine production wells bring the oil and gas from below ground to the surface. Analysis of the current problems of russias oil and gas industry in the context of the main trends of global oil and. In may 20, the plan of development for ten was approved by the government of ghana and tullow commenced its second major operated deepwater development. Authority wb world bank 5 summary since the discovery of oil and gas in. Government through gnpc is seeking to fully maximize ghanas prospects in.

These promotional efforts succeeded in attracting credible oil and gas companies such as anadarko, tullow oil, kosmos energy, eni etc. The field is tullows key asset and generates significant highmargin oil production for the group. The article undertakes a historical overview of oil discovery in ghana and. Ghanas oil and gas industry is operational within three sectors. It contributes significantly to the gross domestic product gdp of many nations and generates billions of. Revenues come from the extraction of a nonrenewable resource. Seismic surveys canadas comprehensive database surface and mineral rights what jobs are involved in drilling a well. Geographically, asia pacific was the largest region in the global oil and gas market in 2017, accounting for around 34% of the global market. The ministry of energy estimates that the market for major petroleum products in. Basic overview of ghanas emerging oil industry by thomas kastning. This paper examines ghana s petroleum industry, its steady growth, and its initial challenges, such as the maritime border dispute and political interventions. From a personal perspective, oil and gas provide the worlds 7. Ghanas downstream petroleum sector international scholars.

The other 44 percent comes from coal, nuclear and hydroelectric power, renewables like wind, solar and tidal power, and biomass products such as. Recent discoveries are that the countrys oil and gas resources stretch across the countrys shoreline from cape three points in the west to keta in the east. From weakening economic growth and intensifying trade tensions to global political risks, our 2020 oil and gas industry outlook takes stock of the main factors to watch in 2020. Companies that are currently party to agreements in ghana include tullow plc, kosmos energy, eni, vitol, lukoil, aker energy ghana, anadarko, petro s. Ghanas oil and gas industry continues to attract key global industry players on the back of sustained investor interest, as well as significant derisking of the western basin. Investing in ghanas petroleum sector ghana is one of africas new oil and gas producing nations. A look into ghanas oil and gas industry news ghana. This chapter pr esents an overview of the main stakeholders a nd outlines their. Oil and gas is big business in ghana and it is only getting bigger. Overview efforts to commercialize ghanas offshore hydrocarbon reserves go back more than 25 years to the establishment of the stateowned ghana national petroleum company gnpc. 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.

Pndc law 64 as a commercial strategic vehicle for state. Ghana market overviewghana market overview discusses key economic indicators and trade statistics, which countries are dominant in the market, the u. The report includes the overview of the oil and gas sector in ghana including. The nigerian oil and gas industry has developed, focusing on increasing indigenous participation in the industry. As we, once again, move from one year to the next, how do we assess the oil and gas. An overview of the nigerian oil and gas industry local. Overview of the oil and natural gas industry oil and natural gas systems encompass wells, gas gathering and processing facilities, storage, and transmission and distribution pipelines.

At pwc, we have watched these industry developments and analysed the effects from the perspective of how they will impact our clients. The oil and gas industry overview and trends nrgi reader april 2015 this reader is intended for use in conjunction with the natural resource charter. The topfour largest oil and gas companies, namely exxonmobil, chevron, bp and royal dutch shell, are expected to account for around 25% of the total global oil and gas industry revenues in 2018. Looking for oil and gas jobs in ghana 2020 from the jubilee field has over 700 oil and gas jobs in ghana. The country has 2,450 megawatts mw of installed generation capacity, including 546 mw of generation from independent power producers ipps. Petroleum industry overview the petroleum industry includes the global processes of exploration, extraction, refining, transporting often by oil tankers and pipelines, and marketing petroleum products. Unfortunately, nigeria missed great opportunities to. Energy initiative associate in research daniel raimi gives an overview of the current state of the oil and gas industry.

The west african republic of ghana is one of africas new oil and gas producing nations. These components are all important aspects of the natural gas cyclethe process of. This field is positioned in a licence area that has been the site of additional discoveries, and the development of the greater. Receive your free insiders guide to investing in oil and gas wells now. The volta basin as well is also believed to hold oil and gas reserves. Oil and gas industry overview petroleum industry 2. The country remains a small producer in the gulf of guinea with current output at. This site will help arm you with the knowledge, tools and confidence to make smart oil and gas investment decisions.

Ghana national petroleum corporation was established in 1983 by gnpc law 1983. The nigerian oil and gas sector evolved, over the years following the discovery of crude oil in commercial quantity in oloibiri, from just miscellaneous to the main stay of the economy. Apart from potential finds in the east, the mahogany, teak and akasa discovery areas in the west look set to boost production over the next decade. Ghana energy sector overview one of ghanas paramount constraints to economic growth is the unreliable and inadequate supply of electric power.