Monday, June 1, 2009

UK Oil And Gas Investors Make Second Visit

The UK West Africa Action Group (UK WAAG) is making its second visit to Ghana to coincide with the West Africa Business Association's (WABA) Oil and Gas Business Conference and Exhibition which will take place in Sekondi -Takoradi from June 2nd - June 4th.Working in conjunction with the British High Commission and UK Trade & Investment, the British delegation has a full programme of business meetings and events with government ministers and business leaders both in Accra and Sekondi - Takoradi.Mission leader Jon Woodwards, International Business Director of Aberdeen & Grampian Chamber of Commerce commented, "With the continued appraisal and development of the Jubilee field and other discoveries such as Tweneboa, Ghana is about to take its place as a significant African oil producer with the tantalising prospect of future large-scale discoveries in this new-found oil province. It is attracting new international investment interest as evidenced by the recent signature of petroleum agreements with Vanco and Lukoil."The success of UK WAAG's last trade mission in September 2008 prompted immediate calls for closer trade links between Ghana and the UK. The mission's 15 delegates reported exciting business opportunities across the many trade sectors involved in the oil and gas industry and were impressed by the ease with which business and trade could be established in Ghana. Several contracts were signed and one British company even decided to establish its West African headquarters in Ghana as a direct result of the visit.Jon Woodwards continued "It is unusual for trade delegates to obtain such immediate and favourable results and this can be attributed in part to the early development stage of Ghana's oil and gas industry but more importantly to its stable and transparent business environment and long-standing trading relationship with the UK. I am accompanied by 15 more UK business delegates on this visit and I am sure that they will also find Ghana to be an excellent investment destination."The UK's need to develop an indigenous oil and gas supply chain and infrastructure from scratch in the 1960's is similar to the position in which Ghana finds itself today.Jon Woodwards commented "The UK is keen to share its hard-won experience with Ghana so that local capability can be developed in the shortest time possible, particularly in specialist areas such as deepwater development where the UK is a global leader. It will be critical, however, that the development of Ghana's supply chain be done in a sustainable way that will provide long-term benefit, without harm to environment and provide opportunity to the entirety of Ghana's commercial, industrial and social base."Jon Woodwards will also reinforce the strong links that he made with the government, civic and business leaders that he met with during his last visit. He said: "I also want to forge new links with trade organisations such as Chambers of Commerce and the West Africa Business Association's officers and local companies, all of which will be vital to establishing strong bilateral trade relations."
Source:Public Agenda

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