Hot!
Akufo-Addo turns on valve to commemorate first oil from Jubilee South Area
President Nana Addo Dankwa Akufo-Addo visited the FPSO Kwame Nkrumah on September 8 to turn on the valve and commemorate the official first oil from the Jubilee South Area.
The Jubilee South-East Area is expected to add 30,000 barrels of oil per day to the greater Jubilee Field, bringing the total oil production at the Jubilee Field to 100,000 barrels per day by the end of this year.
The Jubilee South-East Area is a joint venture that has received a $1 billion investment from its partners.
After turning on the valve, President Akufo-Addo said this is in fulfillment of the government’s commitment to grow the Ghanaian petroleum industry.
The Jubilee South East project is a joint venture between six oil companies, including Tullow Oil, Kosmos Energy, Kosmos Energy Ghana Investments, Ghana National Petroleum Corporation, PetroSA, and Jubilee Oil Holdings Limited.
Energy Minister, Mathew Opoku-Prempeh, who accompanied the President to turn on the valve, said the Jubilee South East project took into account local content.
“The project has been a huge success, delivered in a record time because of utmost cooperation between the operator, and the Ministry of Energy. It 2021, we started this project and now within two years, we are delivering 30,000 more barrels a day, and we have increased the capacity in two years,” Mathew Opoku-Prempeh stated.
Tullow’s Chief Executive, Wissam Al-Monthiry, said the additional 30,000 barrels of oil per day, in addition to the greater Jubilee Field’s production, marks a major step forward in its production.
Petroleum Commission Chief Executive, Egbert Faibille congratulated the Jubilee partners on the Jubilee South East Project, noting that the involvement of local companies like Orsam Oil and Gas in the fabrication of some subsea installations, such as suction piles and manifolds, demonstrates their commitment to local content.
As the Jubilee partners seek to invest more in the field’s expansion and development, locals are expected to benefit from more jobs and contracts.
Source:Citinewsroom.com
Hot!
Many SOEs have been used as mere instruments for personal wealth accumulation –Pres.Mahama
President John Dramani Mahama has expressed concern over the misuse of State-Owned Enterprises (SOEs) for personal financial gain by individuals in leadership positions.
Speaking during a meeting with Chief Executives of specified entities under the State Interest and Governance Authority (SIGA) on Thursday, March 13, the President directly attributed the dire state of SOEs to their leadership, accusing chief executives, management teams, and governing boards of prioritising personal enrichment over organisational efficiency.
He pointed to bloated budgets, unjustified allowances, and unnecessary expenditures as factors draining public funds while SOEs continue to rely on government bailouts.
“Many SOEs have been used as mere instruments for personal wealth accumulation by appointees. The chief executives, management, and boards of these enterprises are responsible for this situation. Some SOEs have become perennial loss-makers, draining public funds with bloated budgets, unjustified allowances, and unnecessary expenditures while relying on government bailouts as if entitled to them. Many of these entities are at their lowest point in the entire history of the Fourth Republic,” he said.
President Mahama further noted that many SOEs have been plagued by inefficiencies, corruption, and mismanagement, leading to consistent financial losses. He cited the 2023 State Ownership Report by the State Interests and Governance Authority (SIGA), which highlighted systemic inefficiencies and wasteful expenditures within these entities.
He therefore reaffirmed his commitment to reforming under-performing SOEs and ensuring they serve national interests.
He warned that loss-making SOEs will no longer be tolerated and will either be merged, privatised, or closed.
“I will assess you based on your performance. If you do not align with the pace of the reset agenda, you may be asked to step aside. If that adds to the horror movie, so be it,” he added.
Source: Myjoyonline.com
Hot!
Prophet Courage Heavens set to launch ‘Predestination’ book on March 23
Prophet Courage A. Heavens is set to launch the much-awaited book titled ‘Predestination’ on Sunday, March 23, 2025 at 5:00PM.
The launch, which is expected to impact lives, will take place at Crossgates Ministries, Flattop, off N1 Highway, opposite Angel Hauz.
The book is aimed at addressing the way people struggle to understand how free will and destiny align.
It is also aimed at providing clarity on God’s sovereignty and one’s place in His divine plan.
The various chapters of the book address various issues through scriptures and personal stories.
Committed to impacting society, part of the proceeds from the book will go into Courage Heavens Education Legacy (CHEL), an educational foundation transforming lives.
CHEL is dedicated to providing financial support and mentorship to brilliant but needy students, ensuring they have access to quality education and opportunities for a better future.
Prophet Courage Heavens is a prolific writer and previously authored Eli Eli Lama Sabachthani, a powerful book that encourages unwavering faith in times of trials.
In addition, he has written seven more prophetic and life-changing books that are yet to be published.
He is dedicated to raising the next generation for impactful ministry. As the leader of Crossgates Ministries, he nurtures believers in faith and purpose.
