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Kosmos invests $3bn in oil sector

kosmos energyKosmos Energy, an oil company, has so far invested $3 billion in Ghana’s oil sector. It has  also decided to invest  additional $2 billion in  the sector which  will go  a long way  to  offer  more employment  opportunities to the people.

The Chairman and Chief Executive Officer of the company, Mr. Andy Inghis, made this known when he called on the Vice – President, Mr. Kwesi Bekoe Amissah –Arthur at the Flagstaff House in Accra yesterday.

He  expressed the  commitment  of  Kosmos  Energy to support  the  government  in the finding  lasting solutions  to challenges  confronting  the  energy  sector.

Gas Project

For  his  part, a  Deputy Minister of  Energy, Mr. Ben Dagadu, said  the  ministry had met and discussed with  officials  of  Kosmos  Energy the way  forward for the  Ghana Gas  project  at Atuabo.

According  to him , Kosmos Energy  informed  the ministry that there large  reserves  of gas  which  could be  exploited  to help address the country’s needs, Responding   the Vice  President  said  the government  would  not under any circumstance compromise on laws regulating  the country’s oil and gas industry.

Private sector involvement

He explained that the government was more  concerned about  the ability of oil concerns operating  in the  country to involve  the private sector and also  provide  employment  for  skilled artisans in their  activities .

Mr. Amissah Arthur  said “we  are  very particular  about  the local  content  issue  in the oil industry, which  is not  negotiable,’’

The Vice –President assured the delegation of the government’s commitment to ensure that both local and foreign enterprise operated in a conducive investment environment.

“Government  will  not shirk  its  responsibility  to ensure  that Ghana will in  the foreseeable  future  remain the most  preferred destination for  investment in the West African  sub-region.” He said.

Source: 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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