The Deputy Energy Minister, Dr. Mohammed Amin Adam, encouraged investors in Philadelphia to invest in the energy sector on Friday in an effort by the Ministry of Energy to maintain Ghana's energy industry's favorable positioning in the eyes of investors for cooperative projects and economic progress.

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At the US-Ghana EXPO Roundtable B2B Matchmaking, which was sponsored by the US-Ghana Chamber of Commerce and supported by the Ministry of Trade and Industry of Ghana, he made this call on behalf of sector minister Dr. Matthew Opoku Prempeh.According to Dr.

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Amin, Ghana has a significant amount of offshore and onshore hydrocarbon resources that are undeveloped and that the sector is working to discover and utilize through collaborations with private enterprises.“In Ghana, Exploration and Production (E&P) licenses are awarded through open, transparent and competitive public tender processes.

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However, E&P licenses may be awarded through direct negotiations without public tender if direct negotiations represent the most efficient manner to achieve optimal exploration, development and production of petroleum resources in a defined area. Either way, prospective contractors must have the requisite technical and financial abilities to undertake petroleum activities," he said.

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The Karaga Member of Parliament also said Ghana aspires to become a hub for refined petroleum products in the West African sub-region and beyond, culminating in the establishment of the Petroleum Hub Development Corporation (PHDC).He said the hub will host infrastructure such as refineries, port terminal facilities, storage facilities, petrochemical plants as well as Liquefied Natural Gas (LNG) terminals with a network of pipelines.

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He asked investors to capitalize on the opportunity this presents.In the power sector, the Deputy Minister highlighted the plethora of opportunities in the renewable and nuclear spaces.“The most important thing we want to do as a Ministry is to ensure the lights are for economic growth and, therefore, we ask that you partner us strategically in the power value chain to ensure this,” he added.

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