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ARPN Journal of Science and Technology >> Volume 7, Issue 1, January 2017

ARPN Journal of Science and Technology


Advances and Challenges of Oil and Gas Developments in Ghana

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Author P. A. Owusu, E.K. Nyantakyi
ISSN 2225-7217
On Pages 545-550
Volume No. 3
Issue No. 5
Issue Date June 01, 2013
Publishing Date June 01, 2013
Keywords Ghana, Oil and Gas, Reserves, Production, Education, Challenges



Abstract

This work explores in some vital detail, the history of early petroleum exploration in Ghana since 1896. After several decades of oil exploration, Ghana finally struck oil in commercial quantities in its off shore Western Atlantic Coast in conjunction with multinational companies in June 2007. Ghana now produces 86,000b/d with natural gas reserves of about 22.7 bnm3 representing 0.01% of the worlds total production. The many years spent to locate crude oil affected the national plan to produce manpower and comprehensive legal and conceptual frame work for the oil industry. This has affected full local content participation due to lack of requisite skills required to work in the oil industry. The issue has been compounded to the extent that the universities are producing students which lack the necessary skills needed to function effectively in the industry all because of lack of commitment and open door policy of the multinational oil companies to the education institutions. This paper seeks to identify the major challenges of Ghana’s oil and gas discovery and the structures to deal with these challenges. It is concluded that there should be proper and enforceable collaboration between the multinational companies and the accredited institutions to the effect that the country’s regulations and institutions already in place should be made binding to all stakeholders in the industry.


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