ExxonMobil eyes return to Ghana

A US oil giant, ExxonMobil, has initiated moves with the government of Ghana in a bid to return to the country, the Minister of Energy, Matthew Opoku Prempeh, has said.

In May 2021, ExxonMobil announced to the Ghanaian government that it was exiting the country’s upstream petroleum sector where it had been conducting exploration after acquiring rights in 2018.

But the Minister said the two parties were making headway for a return.

Speaking at the official launch of the 9th edition of the annual local content conference and exhibition (LCCE) by the Petroleum Commission in Accra, Dr. Opoku Prempeh said: “Exxon Mobil intends to come back to Ghana. Interestingly, we have already started talking because God didn’t put the oil and gas there for us not to utilise. If it means that we have to develop our skills and talent and do more carbon extraction, let us get on with it.”

The company’s investment was the first after a landmark ruling from the International Tribunal for the Law of the Sea (ITLOS) in favour of Ghana, following the maritime border dispute with Ivory Coast a year earlier.

Dr. Opoku Prempeh added, “we have to be deliberate to train and train Ghanaians and Africans, in general, to participate in the petroleum sector.”

The Energy Minister also entreated the Petroleum Commission to monitor the training of indigenes within the space.

He also made a strong case for a deliberate effort to ensure efficient local content in upstream petroleum activities.

Forum

The forum is scheduled from Tuesday 21 to 24 November 2023 at the Best Western Atlantic Hotel, Takoradi.

This year’s conference also marks the 10th year of the passage of the Petroleum (Local Content and Local Participation) Regulations, 2013 (L.I.2204).

The event is on the theme “10 years of Local Content in Ghana’s Upstream Petroleum Industry: Achievements, Challenges and Prospects”, and is aimed at promoting local content and local participation in accordance with L.I. 2204.

It is expected to attract over 1,000 participants from key government institutions, civil societies, trade associations, financial institutions, academia, and representatives from other countries including Trinidad & Tobago, Guyana, Suriname, Angola, Nigeria, Brazil, South Africa, South Sudan, Senegal, Mozambique, Uganda, Kenya, and the United Kingdom.