The potential impact of new discoveries on the country’s economy has led to phenomenal interest in the country’s petroleum sector both locally and internationally.
It is to this end that Lloyd’s Register, a leading international provider of classification, compliance and consultancy services to the marine industry has signed an agreement to form a joint venture dedicated to providing services in the territorial waters of the country with GNPC Operating Services Company (GOSCO).
In the agreement which took place Monday, April 3, 2017, the joint venture company, known as ‘Lloyd’s Register Wells Ghana Limited’, is expected to make available world-class engineering and operations, risk management and performance solutions to support operators deliver safe, cost-effective and compliant E&P activity.
Matt Rothnie, Vice President (V.P) for the Wells business at Lloyd’s Register said his company joined forces with GOSCO as a response to growing industry interest in Ghana’s oil and gas potential along with the requirement to build capability in the country’s E&P sector.
He added that “The move is another example of Lloyd’s Register’s strategy to work in partnership with local oil and gas players to benefit from their local experience whilst providing the benefit of Lloyd’s Register’s global knowledge and technical expertise.”
“We are very pleased to have formed our joint venture with Lloyds Register; we see real opportunities in key aspects of the upstream value chain for joint ventures, which bring together the operational experience of Ghanaian companies with the niche high quality skills of an international partner”, Michael Amoah, Chief Financial Officer (CFO) of GOSCO also stated.
The agreement comes few months after GOSCO, an independent Ghanaian exploration and production (E&P) company signed an agreement with another exploration company, CGG, to form a joint-venture (JV) company dedicated to conducting high-end 2D, 3D and 4D marine seismic acquisition and related services in the territorial waters of the country.
GOSCO provides services to participants engaged in oil and gas exploration, development and production activities (located onshore and offshore), including acting as operator in relation to such activities.