Ghana seeks Indian investment in oil and gas sector to become petroleum hub

BENGALURU, India (Reuters) - Ghana, which is struggling with its worst economic crisis in a generation, is seeking Indian investment in its oil and gas sector, William Owuraku Aidoo, its deputy minister of energy, said on Wednesday.

Ghana has asked India to consider exploration of three blocks in the western basin and to build refineries as the African nation aims to construct a petroleum hub, Aidoo said.

"There are some opportunities in Ghana specially in the oil and gas front. We have some oil blocks available and we came here hoping to attract Indian investments," Aidoo told Reuters after a meeting with Indian oil minister Hardeep Singh Puri at India Energy Week.

He said Ghana will award exploration licences through direct negotiations if Indian companies are interested. Ghana wants India to consider three blocks in the western basin, he said.

Apart from offering exploration opportunities, Ghana is also seeking Indian support to build refineries of about 300,000 barrels per day.

"We have space for three of them ... we want to make a petroleum hub," Aidoo said.

Separately, he said Ghana's oil production this year could average 120,000-150,000 bpd.

 

(Reporting by Nidhi Verma, Writing by Shilpa Jamkhandikar; Editing by Jacqueline Wong)