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Hydra Offshore merges with global oil and gas giant

olGovernment’s establishment of the Enterprise Development Center (EDC) has positioned Ghanaian small-scale enterprises (GHSMEs) for mergers, partnerships and contracts in the country’s new oil and gas sector, less than a year after its establishment in Takoradi.

After going through series of well-designed courses to enable the country’s small enterprises to play in the oil and gas sector at the EDC Takoradi, a Ghanaian company, Hydra Offshore has attracted the attention one of the largest players global in the oil and gas stage.

The Ghanaian company signed a pact with Wood Group, one of the world’s largest provider of brownfield services to the oil and gas industry with a global workforce of over 29,000 people in more than 40 countries.

The pact aims at delivering subsea-engineering projects for Ghana’s oil and gas industry, which is described as highly competitive.

The company offers high integrity services that optimise the performance of facilities, maintain production, reduce operating costs, ensure asset integrity and extend the operating life of fields.

The pact, which was signed at Enablis – the center responsible for establishment and running the EDC -is said to be an indication that with a little push, Ghanaians would take over the industry earlier than expected.

The move, according to Wood Group, highlights its commitment to nationalisation and engaging the local supply chain in countries it operates in.

The collaboration, according to the group, would combine the strengths of Hydra Offshore’s subsea engineering capabilities with technical experience, capacity, technology and technical assurance of Wood Group’s global oil and gas business.

Speaking after the signing ceremony, the Country Manager of Wood Group Ghana, Mr Ian McKay, said at all its operations across the globe, it endeavors to create jobs, develop local resources and stimulate the economic base.

“We continually expand the local contents of our activities and operations in line with our core values and this partnership with Hydra Offshore will underpin this work,” he said.

“This partnership reflects our commitment to growing our business in Ghana and it directly supports the aims of Enterprise Development Centre, to assist Ghanaian small and medium enterprises in positioning themselves to take advantage of the opportunities in the oil and gas sector.”

Mr McKay said “Hydra Offshore engineers will also be able to tap into the subsea experience, knowledge on job coaching, technology and in house training programs available through our sister company, Wood Group Kenny”

The Chief Executive Officer for Hydra Offshore said, Delali Otchi, said Hydra Offshore was committed to the national agenda of maximising local content and striving to achieve a very high degree of Ghanaian content as practicable without compromising operation and technical integrity.

He said his outfit’s pact with Wood Group and other affiliates was designed to encourage the needed knowledge transfer required to promote local participation of Ghanaian companies in the oil and gas sector.

“Hydra offshore limited is wholly Ghanaian owned oilfield Services Company providing offshore and subsea engineering solutions to the oil and gas industry in Ghana,” he said.

The Director of EDC, Daavi Shika Acolatse, said the EDC would continue to support Hydra Offshore and the collaboration with Wood Group, adding that the pact gives meaning to Government of Ghana’s commitment to support local businesses

The EDC, a Government of Ghana initiative spearheaded by the Ministries of Energy and Petroleum (MoEP) and the Ministry of Trade and Industry (MoTI) is commissioned to provide support to Ghanaian Small and Medium Enterprises (GhSMEs) to competitively position themselves and take advantage of the numerous business opportunities in the oil and gas sector.

Wood Group

Providing a range of brownfield production, subsea support and greenfield engineering services, Wood Group operates in more than 21 countries in Africa, employing over 5000 people.

The group comprises three divisions such as Wood Group PSN, engineering and gas turbine divisions.

Wood Group’s Production Facilities business and Production Services Network (PSN) merged on 20th April 2011 to create Wood Group PSN.

The merger created the world’s leading brownfield service provider with annual revenues of around US$3billion and a 28,000 strong workforce operating in more than 35 countries.

Source: Moses Aklorbortu/ Daily Graphic

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Reporting Oil and Gas project was launched on 4th June 2009atTakoradi, Western Region, Ghana by Penplusbytes (PPB – www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector
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