The Minister of Energy, Dr Matthew Opoku Prempeh, has urged decision-makers in the oil and gas industries in Africa to make a concerted effort to add value to the oil and gas value chain, a strategy through which citizens can fully benefit from the hydrocarbon potential.
He made this call when he addressed government leaders and investors from various African countries during the Country Spotlight session at the 2nd African Energy Week in Cape Town, South Africa last Friday.
He noted that strategic infrastructure investment was a vital foundation for increased growth to spark interest in further explorations.
He proposed that the continent’s linkages between upstream and downstream be used to maximize and retain value.
“This could be done by expanding the refining capacity and storage for crude oil and petroleum products and providing the appropriate infrastructure for petrochemical production and transportation of gas and petroleum products will provide these linkages” he added.
Dr Opoku Prempeh reaffirmed Ghana’s desire for large investment in its upstream petroleum space and urged investors and governments to collaborate with the energy industry to ensure its continuing development.
He stressed the importance of investment in Ghana’s downstream petroleum sector with a particular focus on the Petroleum Hub agenda.
He mentioned substantial measures to overhaul the nation’s refinery to promote Ghana’s economic progress.
The Minister, who was also a panellist on a Ministerial panel, on the theme “From Cape Town to Cairo: A common African Voice for COP27” reaffirmed his strong position on Ghana leveraging on its hydrocarbon resources for economic growth backed by the national energy transition blueprint.
He called for a united voice at the upcoming COP27 in Egypt, Cairo.
The energy minister expressed satisfaction that Africa’s stance on energy transition was deepening, emphasizing that the transition was reasonable and equitable.
Irene Wirekoaa Osei, ISD