Ghana has capability to satisfy domestic gas demand — Tullow MD

The Managing Director of Tullow Oil Ghana, Mr Wissam Al-Monthiry, has said the county has the capability to satisfy its domestic gas needs to guarantee its energy security and accelerate national development.

With the current global trend of threats and insecurity, occasioned by the Covid-19 pandemic and other developments, he said energy security should be the subject for Ghana and other nations.

He said the pandemic had shown the country the importance of localisation of the supply chain and the need to develop that space for the benefit of all resource-rich nations to be in control.

“As we continue to live in global space, one thing that needs to be improved upon is for resource-rich nations to as much as possible be in charge of their own destiny and future to ensure they derive the full benefit,” he said.

Mr Al-Monthiry was speaking to the Graphic Business after the commissioning of four security vessels of which Tullow Ghana has signed a five-year Memorandum of Understanding with the Ghana Navy to provide security services at the Jubilee and TEN oil fields.

Offshore installations

The vessels, which have been acquired for the Ghana Navy with funding from the GCB Bank, will provide asset protection for the country’s exclusive economic zone (EEZ) as well as the TEN and Jubilee offshore installations.

Tullow Ghana, its partners under the arrangement, will provide a total of $23.5million under the five-year contract period, which commenced in January, this year to December 31, 2026.

Mr Al-Monthiry said for Ghana and other oil nations to be in control of their own future energy needs and ensure security – the domestic production of oil and most importantly natural gas must be a priority.

“The truth is that Ghana has the capability to domestically satisfy its gas demands which would ensure sustained energy generation for much needed industrialisation drive,” he said.

Security

The other critical area which Ghana is doing well in is its border security of which the government has expressed its resolve to do, to defend its territorial waters and combat transnational crime groups within the Gulf of Guinea.

Mr Al-Monthiry said the current global security outlook should remind all nations of the need to be in charge of their own fate in terms of energy and border security.

Tullow Oil, he said, was committed to Ghana and had been a partner of the state since its arrival in the country. “We have been helpful custodian of the natural resources of the country and for healthy partnership for the benefit of all stakeholders.”

In its quest to be worthy custodians with current issues within the Gulf of Guinea, he said: “When we were offered the opportunity to utilise the Navy vessels and personnel, who are the defenders of the maritime space, and to provide security around the strategic offshore oil installations, we saw it as a welcoming and healthy collaboration with the nation for oil and gas production.”

The resolve by Tullow Ghana and its partners to support through the contract with the Navy was important and for the mutual benefit of all and “we are committed to what makes that country’s offshore activities safe for the achievement of the intended purpose after Ghana joining the comity of oil producing nations.”

TEN & Jubilee

He said under the current arrangement, there would be a dedicated security for its offshore installations and production at the Jubilee field and Tweneboa, Enyenra and Ntomme (TEN) fields.

Asked if the engagement with the Ghana Navy would lead to the disengagement of other supply vessels and workers which hitherto were providing such services, Mr Al-Monthiry responded in the negative, saying, “what it means is that those vessels could now focus on other core secondary responsibilities of supply services and oil spill response on the fields.”

Since the inception, exploration-discoveries, development and production in the country, he said Tullow Ghana had been a good corporate citizen and had brought in an excess of $10-billion in terms of cash flow into the economy.