GE and GE Oil & Gas pledge support for Ghana's energy sector
President Mahama met with the Chief Executive Officer and President of General Electric Oil and Gas Subsea
Systems and Drilling, Neil Suanders, as well as the CEO and President of GE UK & Ireland, Mark Elborne, to discuss GE’s support and investments in Ghana’s industrial sector in Aberdeen, Scotland. The meeting was part of his visit to Aberdeen, where President Mahama also attended the Growth in Ghana Forum, which was organised by the Aberdeen & Grampian Chamber of Commerce as a platform for companies to come together to discuss the multi-sector opportunities available in Ghana.
President Mahama indicated that Ghana is keen to tap into the oil and gas expertise built up in Scotland over more than 50 years of offshore operations. Leaders from both GE and GE Oil & Gas took the opportunity to reinforce GE’s commitment to supporting Ghana’s energy potential.
GE’s long history of investment in Ghana dates back to the 1960s, with the provision of equipment for the construction of the Akosombo Dam. Today, GE continues to work closely with the country’s leaders on plans to develop the critical infrastructure needed for continued energy management in the country. More recently, in 2014, GE opened a new 200-capacity permanent office in Accra. In April 2015, GE announced the award of an $850 million order for the supply of equipment to the Offshore Cape Three Points (OCTP) block. This project is currently being executed and, as part of this activity, GE Oil & Gas has committed to long-term capability building in the region, including the construction of a manufacturing facility in Takoradi Port, due for completion by end July.
Mark Elborne said: “I was honoured to meet H.E. President John Dramani Mahama today. At GE, we share the people of Ghana’s desire to develop the critical infrastructure needed to power the country’s future.”
As Ghana forges ahead to diversify its economy by investing in other sectors such as energy, oil and gas, global best practices and partnerships are a key driver of success. In this regard, Ghana is in the process of enhancing the regulation of the oil and gas sector by amending its Exploration and Production Bill, which will also improve the management of the industry’s social and environmental impacts.
Government efforts such as these, couple with investments from global industry leaders such as GE, are set to turn Ghana into one of Africa’s oil & gas giants as they unlock the potential of the country’s substantial natural gas reserves.