The President Nana Akufo Addo, has commended the Jubilee Partners for another remarkable feat, which is the South-East area oil discovery.
The Jubilee South-East Area, the new kid on the block, is part of the Jubilee Field, and a joint venture that had received a $1 billion investment from its partners.
It is expected to add 30,000 barrels of oil per day to the Jubilee Field oil production by the end of the year.
The President, who was speaking at the celebration luncheon of the project after inspecting key sections of the FPSO remarked, ‘this is a testament of what strategic partnerships and collaborations can do, and I am excited about this landmark event under the NPP government again after years of TEN discoveries.’
He acknowledged efforts put in by partners to grow the energy sector and secure the future energy needs of the country.
The President, recalled the energy’s sector contribution to GDP and the need for more synergies in a bid to move, sustain and prosper the country.
The Government, he hinted, was determined to further invest in the sector to reshape the economy, create jobs and advance community development.
On natural gas, the President was of the belief that the product would be strategically harnessed to ensure sustainable electricity for businesses, households, and commercial purposes.
‘We are looking at a combine sale agreement between Tullow, its partners and the government,’ the President said.
He reminded the partners about the amendment of the Local Content Law, LI 2204 which dictates channel partnership and strategic alliance.
‘We believe in equipping all vehicles and institutions of training to strategically transfer technology and knowledge to the locals to aid in full participation of Ghanaians in the upstream petroleum sector.’
The President also referred to the Paris agreement on Energy Transition and how the country was preparing through plans and programmes bearing in mind climate change adaptability factors to transform the sector.
‘We will protect investment in the sector in view of the transition.’
The President was happy that the investor community was flourishing in relevant laws within the country’s oil and gas sector adding, ‘Our Doors are opened for conversations for continual support, growth and shared prosperity.’
A celebration cake was cut to crown the day.
Source: Ghana News Agency