Petroleum Africa
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Wednesday, January 22, 2014
The West African country of Ghana is expecting some major investment in the coming years according to Alex Mould, CEO of its state-run firm GNPC, on the sidelines of an energy event. The country expects at least $20 billion of investment into its petroleum industry over the next five years. Mould said these funds would mainly come from foreign companies.
Mould said the money would mainly be spent on the development of the Deepwater Tano/Cape Three Points Block, the Tweneboa/Enyera/Ntomme (TEN) project, and the Sankofa Block.
The TEN field will see $1.4 billion in investment this year alone, while 2014 spending plans for Sankofa and Deepwater Tano/Cape Three Points are yet to be determined, he said.
“The only one that we are spending on this year is the TEN project. However, there will be exploration work going on ” he told reporters. He also said there would be appraisal work on going, “So there will be wells drilled and investment coming in.”
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