Ghana invites Indian investors to explore its oil and gas sector

Bengaluru, Feb 8 (KNN) Ghana’s deputy minister of energy, William Owuraku Aidoo, on Wednesday asked India to consider investing in its oil and gas sector amidst its worst economic crisis, according to a report in the Reuters.

It has asked India to consider the exploration of three blocks in the western basin and to build refineries as the African nation aims to construct a petroleum hub.

"There are some opportunities in Ghana, especially in the oil and gas front. We have some oil blocks available, and we came here hoping to attract Indian investments," Aidoo told Reuters after a meeting with Indian oil minister Hardeep Singh Puri at India Energy Week.

Aidoo said that Ghana will grant the exploration licences through direct negotiations if Indian companies are interested.

As per reports, apart from offering exploration opportunities, Ghana is also seeking Indian support to build refineries with a capacity of about 300,000 barrels per day.

"We have space for three of them. We want to make a petroleum hub," he said.

Ghana, this year, is expecting oil production to touch an average of 120,000-150,000 bpd.  (KNN Bureau)