Ghana’s vast hydrocarbon potential and the opportunities for investors to participate in the broader energy sector’s development were highlighted by Harry van Schaick, Managing Editor for Africa, Oxford Business Group (OBG), together with other economic analysts and industry experts recently at the Ghana Oil, Gas and Energy Summit 2022, which took place in Accra between November 14-15.
Organised by IN-VR, with the support of the Ministry of Energy of Ghana and the Ghana Investment Promotion Centre, the conference brought together high-ranking representatives from the public and private sectors to explore industry trends, openings and challenges.
Keynote speakers and panellists discussed a range of topical issues, from the latest developments in oil and gas exploration and production to opportunities in the downstream and renewables segments.
The summit shone a spotlight on the sector’s project pipeline, highlighting the openings that each phase will offer investors, from construction and optimisation to the distribution stage.
The topic of funding and financing for the energy industry was high on the agenda, alongside Ghana’s offshore plans for the Jubilee Field and the forthcoming contracts for the country’s liquefied natural gas projects.
Ghana’s pioneering local content policy was also discussed, together with the role earmarked for renewables as part of longer-term efforts to cut emissions.
Van Schaick, who sat on the Regional Cooperation Panel which explored the theme “West Africa as the Global Upstream Powerhouse”, said the summit had provided a timely opportunity to analyse how Ghana can unleash its immense hydrocarbon potential most effectively within the broader geographical context.
“Home to the sixth-largest proven petroleum reserves in Africa, Ghana is well placed to capitalise on an abundance of natural resources. However, we need to recognise that each individual market in oil and gas, as well as the upstream sector in West Africa, is at a different stage of evolution,” he said. “We have already seen some cooperation and integration, especially in the electricity market within ECOWAS. I think a multi-national organisational effort will be pivotal in bringing together a harmonised energy regulation framework in the West African sub-region.”
Many of the key topics explored at the summit will be given further in-depth coverage in the Energy and Utilities chapters of The Report: Ghana 2023, OBG’s forthcoming analysis of the country’s economic development and investment opportunities.
The report will explore the latest developments across the country’s energy sector and their broader implications for the economy, from new petroleum agreements signed and gas production and distribution plans to Ghana’s renewable energy policy.
The Report: Ghana 2023 will be produced with the Association of Ghana Industries, PwC Ghana and other partners. It will contain contributions from leading personalities in the public and private sectors. The analysis will mark the culmination of more than a year of field research by a team of analysts from Oxford Business Group. It will be a vital guide to the many facets of the country, including its macroeconomics, infrastructure, banking and other sectoral developments. OBG’s publication will also contain contributions from leading representatives across the public and private sectors.
The Report: Ghana 2023 will be available online and in print. It will form part of a series of tailored studies that OBG is currently producing with its partners, alongside other highly relevant, go-to research tools, including ESG and Future Readiness reports, country-specific Growth and Recovery Outlook articles and interviews.