Oil Field Services: News for Oil & Gas and Hydrocarbon Industries  Membership Services »
Gulf Oil and Gas grow your business
Home News Events Projects Tenders Unconventionals Community | My Account Gulfoilandgas rss feed Follow us on Facebook  Jobs 
Products and vendors Services and providers Oil & Gas Software and publications

Lonrho to Develop a New Oil Logistics Port in Ghana

Source: www.gulfoilandgas.com 8/18/2011, Location: Africa

Share |

Lonrho Plc is pleased to announce that its wholly owned subsidiary, Lonrho Ports Ltd, has signed a Memorandum of Understanding with the Government of Ghana, represented by the Minister of Transport, to be the sole developer and manager for a new oil logistics port in Western Ghana to service the growing demands of the offshore oil industry in Ghana. The proposed new port will be located on a 2,000 acre site and will be designated as the strategic 'one stop' location for supporting the rapidly growing oil, gas and petrochemical industry in Western Ghana. The first phase of the development will be 200 acres and will include an oil logistics port to provide international standard, efficient logistics for offshore oil companies as they increase production from Ghana.

The project has an initial concession term of 25 years renewable for a further 25 years and it is envisaged that the project will be a similar operation to Lonrho's successful Luba Freeport that handles all the oil industry requirements in Equatorial Guinea. Many of the clients for the new project will be the same as those at Luba Freeport and the new port in Ghana will become the centre of the oil industry activity for Ghana. Under the terms of the MOU Lonrho Ports has been granted the sole right, for a period of twelve months, to undertake an environmental impact study, wave and bathometric surveys and to design and optimize the project. Thereafter, subject to the viability of the project, Lonrho has the sole right to develop and manage the free port. Located in the Western Region of Ghana, the new port will be strategically located close to the Jubilee oil field, substantially improving the current logistics for servicing the offshore rigs. The project will bring direct economic benefits to the Western Region creating new employment opportunities in the region, supporting local companies and will be a stimulus for commercial growth.

David Lenigas, Executive Chairman of Lonrho, commented: "Ghana is one of the fastest growing economies in Africa and has already started commercial daily oil production from offshore fields, and production is forecast to increase substantially over the next five years. An international standard, highly efficient, well located, oil port in the Western Region is important to provide the required infrastructure to support this growing industry. Lonrho is very experienced in building oil service ports and is delighted to be developing this strategically important project in conjunction with the Government of Ghana."

The oil industry in sub Saharan Africa has become a crucial component of global production and a strong driver of economic growth. The infrastructure to support the industry needs to be developed to meet the production forecasts of the producers across the Continent.

Oil Field Services News in Ghana >>

Technip Heerema Alliance Wins $3.5b EPCI Contract Offshore Angola
Angola >>  4/16/2014 - The consortium, comprising Technip and Heerema Marine Contractors (Heerema), was awarded a major lump-sum contract by Total E&P Angola for the enginee...
Saipem Wins $4 Billion FPSO Contracts Offshore Angola
Angola >>  4/16/2014 - Saipem has been awarded two contracts in Angola by Total, for a combined total of more than $4 billion. ...

Aker Solutions Wins $2.3 Billion Contract Offshore Angola
Angola >>  4/15/2014 - Aker Solutions won a contract worth NOK 14 billion from Total to provide a subsea production system for the Kaombo Block 32 development in Angola. Ake...
Angola to Launch Tender for 10 New Onshore Oil Blocks on May 30
Angola >>  4/14/2014 - Angola will start the tender process for onshore oil exploration at 10 new blocks in the Congo Basin and Kwanza Basin on May 30, state oil firm Sonang...

Africa Economy in March 2014
Egypt >>  4/10/2014 - The economy of Egypt has seen a modest return to growth in both of production and new orders last month following a deceleration in January. On the ot...
All Saints …No Devils: Staging Egypt Energy “Crisis” to Profit from Prices!
Egypt >>  4/9/2014 - The paramount pressure of international energy security especially escalating global demand and its geo-political complications leave no room to under...



Related Categories: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Land & Leasing  Oil & Gas Companies  Production  Service Companies  Utility Systems  Welding Products/Services 

Related Articles: Camp Building  Cleaning Equipment, Services  Communication  Corrosion Products/Services  Development  Exploration  General  Labor Services  Land & Leasing  Mine Clearance  Oil & Gas Companies  Production  Service Companies  Transportation, 4X4 Trucks  Utility Systems  Water Supply Services  Welding Products/Services 


Ghana Oil & Gas 1 >>  2 | 3 |


More News

Oil & Gas Companies in Ghana >>

Related Links

Countries Quick Links

AO BJ CD CG CI CM DZ EG ET GA GH GN GQ KE LR LY MA MG ML MR MZ NA NE NG RW SC SD SL SN SO ST SZ TD TN TZ UG ZA ZM
Gulf Oil and Gas E-Marketplace - Promote your Business - About Us
Copyright © Universal Solutions All rights reserved. Privacy Policy. - Contact Us