Guyana and Ghana need to find ways to develop their oil and gas resources in a big way so that their countries can grow and get better.
President of the Republic of Ghana Nana Akufo-Addo talked about this important point in his opening speech at the International Energy Conference and Expo on Tuesday morning at the Marriott Hotel in Georgetown.
“How can we close the gap if we aren’t allowed to use the resources God has given us?”… Our lands have a lot of natural resources because God gave them to us, and we don’t think it’s fair for the rest of the world to expect Africa to use them, the Ghanaian President said at the ceremony.
He said that if countries like Ghana and Guyana want to become developed, they need to add value to their oil and gas resources instead of just using them as they are.
“How well we use these resources will determine whether we succeed or fail,” he said.
The theme of the event was “Charting a Sustainable Energy Future.” President Akufu-Addo said that the conference brings the goals of COP26, a global meeting of world leaders held last year to deal with climate change, into sharp focus.
In this situation, he said, “The effects of climate change have been terrible, especially on the continent of Africa.” Agriculture, water, and energy are very important to our countries’ growth and development.
We have a solemn duty to act quickly and bravely to stop the global climate from getting worse than what we can handle. It is in our own best interests to save the continent’s economy and to work harder together to fight climate change.
The offshore Jubilee field, which is thought to hold 700 million barrels of oil and 800 billion cubic feet of gas, made Ghana a full-fledged oil and gas producer. Right away, work on the production site began, and in December 2010, oil production began for real.
In May 2015, Guyana found oil in the Stabroek Block, which has a lot of it. When production began in the Liza One Development, 120,000 barrels of oil per day were coming out of the ground. Just a few days ago, the Liza Two development started pumping out 220,000 barrels of oil per day, bringing Guyana’s total daily output to 340,000 barrels. There are plans for other big oil and gas projects.
