Ghana's Oil and Gas Sector Perspectives

1. Ghana's Oil and Gas Sector - World Bank Support

The development of Ghana’s Jubilee oilfield has the potential to bring
substantial benefits, including reliable and affordable power generation, government
revenues estimated at more than $1 billion during peak production, foreign exchange
income, jobs, and stimulated demand for local goods and services to Ghana. The
engagement of the World Bank Group in the Jubilee oilfield supports the
government’s priority to develop its natural resources in the long-term
interests of the country. The World Bank Group is committed to following the highest
standards of governance and environmental and social practice to help maximize the
development impact in all projects we support.

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2. Council of State members are briefed on oil industry

Takoradi, July 29, GNA - Professor Kofi Awoonor, the Chairman of the Council of State, has appealed to Tullow Oil, the majority stakeholder in Ghana's Jubilee Oil Field, to consider channelling part of its gains to develop the nation especially the region in which it is operating.
He said though the nation stood to benefit from the oil industry, Tullow Oil must not neglect the communities in which it operates when it starts making profits from the oil production.
Prof Awoonor referred to the gold mining town of Obuasi in the Ashanti Region and said infrastructure in the area was poor though the mining company made a lot of gains from the industry.
He said this when management staff of Tullow took turns to brief members of the Council of State on their operations at the Air Force Base at Takoradi on Wednesday.
The members paid a two-day working visit to the region to learn about the oil and gas industry as well as the progress of work at the Jubilee Filed by Tullow Oil.

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