Ghana has entered into what officials describe as a strategic alliance with Saudi Arabia’s oil firm PetroSaudi International Limited to help develop the country’s oil and gas sector.
In a Memorandum of Understanding (MOU) signed by the Ghana National Petroleum Corporation (GNPC) and PetroSaudi last week, officials say the alliance “will increase the benefits Ghanaians derive from the country’s upstream oil and gas industry.”
“GNPC and PetroSaudi will explore joint ventures in oil and gas exploration, development and production; oilfield services and infrastructure; and national capacity building, infrastructure and facilities development,” said a statement from GNPC posted on the government’s official web portal.
The MOU was signed by GNPC Chief Executive Officer (CEO) Mr. Nana Boakye Asafu-Adjaye and Mr. Tarek Obaid, CEO of PetroSaudi.
“PetroSaudi has an impressive track record of support for ambitious national oil companies. With them will be strategic for achieving GNPC’s vision of a nationally led oil and gas industry that contributes positively to national development,’’ the statement quoted Mr. Asafu-Adjaye as saying.