Accra to host major oil summit in November

Accra will in November host an oil summit that is expected to attract hundreds of international investors after a thriving first year for the Ghanaian oil industry which has sparked interest across the globe.

According to organizers, the Ghana Energy Summit 2011, which would bring together many of the world’s biggest oil companies and suppliers, would take place on November 14 and 15.

“Businesses will have the chance to network with multinational companies seeking new partners and investment opportunities in Ghana,” the statement from the organizers in London sent to the GNA, said.

Mr Neil Mckenzie, Managing Director of Ghana Energy Summit 2011, organiser, and Oliver Kinross, a global research group, said: “We’ve never seen such a huge amount of international interest in an oil market as Ghana. The summit is set to be a huge event and we expect some of the world’s biggest oil players to attend.”

Addressing the summit would be some of the world’s leading oil industry experts who would provide vital insights into how Ghana could reap maximum rewards now and for years to come.

Ever since 2007 when oil was first discovered in the offshore Jubilee field, 65km off the coast of Ghana, the country’s economy has been in a revolutionary period of change.

“The potential benefits to Ghana are vast. The discovery has already set in motion the creation of thousands of new jobs and businesses to meet the needs of a burgeoning energy industry,” the statement said.

“In the fields of oil refinery, storage and transportation, gas infrastructure and further exploration, there are still countless opportunities for Ghana.

“And the knock-on effects for housing, motoring, banking and shipping will bring many more openings for the businesses that take advantage while the industry is still in its infancy.”

Source: GNA