Ghana, which is one of the countries at the forefront of such a move, says the Gulf of Guinea’s tremendous potential is creating investment opportunities for the region and needs to be explored.
At the 16th Gulf of Guinea Gas Conference in Abidjan, Cote d’Ivoire on November 6-8, 2013, the Minister for Energy and Petroleum Emmanuel Armah-Kofi Buah said even though the region has to cope with numerous challenges, natural gas resources can be exploited to its full potential for maximum benefit if necessary investments are undertaken.
Contributing to a panel discussion, the Minister, who led a high-powered delegation to the conference, however indicated the need for stronger collaboration among the states along the Gulf of Guinea if the vision of successful monetisation of the gas resources is to be realised.
The delegation included the Attorney General and Minister for Justice, Mrs. Marietta Brew Appiah Oppong and the Minister for Lands and Natural Resources, Alhaji Inusah Fuseini.
Mr. Buah said the Gulf of Guinea is undoubtedly emerging as an important place in the global economy with natural resources.
“We need to pool resources to ensure that we exploit this resource and add value for the benefit of our people,” he said, adding also that the Gulf of Guinea must be a region of stability in order to become a development zone.
All speakers at the conference stressed on the need for synergy in oil and gas sector operations of the various countries.
The event’s host, the Ivorian Minister for Mines, Petroleum and Energy, Adama Toungara, said everything highlighted the fact that the Gulf of Guinea represents a significant proportion of the world’s oil and gas potential.
He called for a massive reduction in gas-flaring and advocated intense efforts at collaboration to explore the region’s gas resources for maximum benefit.
Mr. Toungara urged governments to exchange ideas, share experiences, and devise future strategies to increase the participation of indigenous players in gas activities and promote industrial and economic development.
The conference was attended by representatives from governments, national oil and gas companies and leading operators.
Get the latest news and updates on Ghana’s oil and gas value chain by following us Reporting Oil and Gas on twitter @oilgasghana and like our facebook page and get at us on Google+. Subscribe to our group to get updates