Oil & Gas terminal inaugurated at Takoradi Port

A US$100million Oil and Gas Services Terminal has been inaugurated by President Nana Akufo-Addo at Takoradi Port. Started in November 2022, the project was completed within two years with funds from government and the China Harbour Engineering Company as contractor and GTYD as engineer.

It has a Quay wall of 550 metres, a draft of 10 metres and comes with a 200,000sqm serviced land area for siting oilfield operators, logistics service providers, operational offices, workshops and storage facilities, among others.

President Akufo-Addo said the facility is a bold step to showcase Ghana’s progress in becoming a leading hub for the oil and gas industry. “This terminal strengthens Ghana’s position as a competitive destination for oil and gas operations,” he stated.

For his part, Kwaku Ofori Asiamah – Minister for Transport – was hopeful that the terminal will allow for smooth operation of the oil and gas supply chain.

This is a landmark achievement, since it was once labelled ‘the  dying Port Takoradi’.  There is little doubt that the oil and gas terminal will have a positive impact on operations at Takoradi Port.

It also means importers and exporters have two ports to choose from in doing business.

The President also observed  that this is a key milestone that will streamline offshore supply services, enhance heavy engineering and fabrication activities as well as provide a comprehensive suite of services for the petroleum exploration industry.

The terminal is a world-class shore-based logistics platform within the port, featuring offshore supply vessel (OSV) berthing facilities and serviced waterfront land to support offshore oil and gas exploration and production operations.

Indeed, the port was built in 1928 but has seen a lot of transformation by the state over the past eight years. Mr.  Michael A. Luguje, Director-General of GPHA, was grateful to President Akufo-Addo for the transformation he has brought to Port Takoradi and Port Tema.

He mentioned that in the past five years GPHA has been able to provide about 3,000 permanent jobs for people, which is very impactful. It is the hope of this Paper that the heavy investment made will be carefully and constantly maintained so returns on investment can be achieved.

The post Oil & Gas terminal inaugurated at Takoradi Port appeared first on The Business & Financial Times.

Read Full Story