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Business News of Wednesday, 18 May 2016

Source: B&FT

Over 5,000 jobs created in oil & gas sector

Minister of Petroleum, Emmanuel Armah Kofi Buah. Minister of Petroleum, Emmanuel Armah Kofi Buah.

The Minister of Petroleum, Emmanuel Armah Kofi Buah, has said about 5,700 jobs in the oil and gas sector has been created.

He disclosed this at Sanzule during the sod-cutting ceremony for commencement of construction of an Onshore Gas Receiving Facility by ENI, the Italian oil company and its partners executing the Offshore Cape Three Points Integrated Oil and Gas Project (OCTP).

He explained that all the international oil companies (IOCs), including ENI, have been complying with the country's local content policy through the involvement of Ghanaians at all strategic levels of development in the sector, hence the creation of jobs.

Aside that, the Minister said other measures introduced, such as proper laws, incentives to goad investors, ongoing construction works, consolidation of gains being made, including value creation for effective local participation in the complex industry, continue to contribute to job creation.

He noted that the people of the Western Region, in particular, should be excited because of the ongoing development taking place along the oil enclave.

These include construction of oil enclave roads, the planned oil harbour, processing plants, a mini airport, all encapsulated in the oil enclave programme developed by stakeholders.

Kofi Buah said the numerous social interventions being spread across the country should inform Ghanaians that govenment is committed to the development of the country.

“President Mahama’s pledge and commitment to create a new growth pole using the Western Region as the solid ground is on course," he stressed, adding that "the journey has been long and painful.”

In the development of the gas sector of the oil industry, which has been described as crucial to the energy plans of the country, he reiterated the commitment of his ministry to work closely with stakeholders.