An elaborate plan to make Ghana a major force in the export of petroleum products in the West African sub-region and beyond should make significant strides by the end of this year, Deputy Energy Minister in charge of Petroleum, Mohammed Amin Adam, has revealed.
Dr. Adam says a Petroleum Hub taskforce has already been established to develop a master plan for the project.
Speaking current affairs programme, Hard Truth, which aired on the Joy News channel on MultiTV, Wednesday, the Deputy Minister said at least three new refineries have been earmarked for construction to facilitate the grand project.
One refinery, with the capacity to supply at least 100,000 barrels a day will complement the Tema Oil Refinery (TOR) to supply petroleum products only for the domestic market, Dr Adam revealed further.
“This will require pipeline infrastructure, it will require tank farms, it will even require a port,” he said to paint a picture of the grand project.
The Petroleum Hub taskforce inaugurated last week, he said, will “develop the kind of infrastructure we need, how much it will cost us, where we should locate the refineries – where they are going to be for export or domestic needs – all are going to be integrated into that master plan.”
Implementation of the project will begin by end of this year, he told show host Akosua Konadu Asante-Samuels.
Tapping into a vision
Former President John Mahama first mentioned Ghana’s potential to become a petroleum hub in April 2016, when he launched first oil at the Tweneboa, Enyenra, Ntomme (TEN) fields.
The former President had said TEN fields’ capacity to produce 76, 000 barrels a day and approximately 15 million standard cubic feet of gas, will add to Jubilee’s approximately 80,000 barrels a day boost Ghana’s clout on the global stage.
However, no further concrete steps were taken by the erstwhile administration before it left office in December 2016.
TOR could still do better
Speaking on Hard Truth on Wednesday, Dr Adam said an important part of the current government’s effort to make Ghana a petroleum hub was to revamp TOR.
He revealed when the plan is set in motion, the refinery’s capacity will be increased and its debts cleared.
TOR’s refinery capacity currently stands at 45,000 barrel a day.
TOR’s debt, which stood at GH¢900 million as of the end of 2009, is a major impediment to its progress.
Watch the video below for more from the discussion on Hard Truth.
Ghanainternet.com has not published any news today, check back in some few minutes time....