President John Dramani Mahama on Saturday said the Offshore Cape Three Points (OCTP) integrated oil and gas project in Sanzule in the Ellembelle District would generate 1,000 megawatts of electricity daily.
The project, being undertaken by ENi Ghana, an Italian International Company, would also produce a non-associated gas of 180 standard cubic feet per day for a period of not less than 20 years.
This would be tied in to Ghana gas 110 km 20 pipeplines to deliver gas to the Aboadze and Tema power enclaves.
President Mahama was speaking at a sod-cutting ceremony for the commencement of work on the onshore gas receiving facility at Sanzule in the Western Region.
He said ENi Ghana, the operator of the OCTP oil and gas project, in collaboration with Vitol Upstream Ghana Ltd and the Ghana National Petroleum Company (GNPC), which were non-operating partners, had joined forces to deal with the energy crisis which had reduced to the barest minimum.
President Mahama commended ENi Ghana for making the largest investment in the oil and gas sector of Ghana and the West African sub-region in the last 59 years.
He tasked the company to create more jobs for the youth, especially those in the catchment area, and allow the 2013 Local Content and Participation Policy to guide its operations.
President Mahama said it was the intention of government to make the Western Region the new growth pole of Ghana as more industries and new opportunities continued to emerge in the area.
He urged the Petroleum Commission to ensure that safety standards were adhered to as they produced gas to power the nation and boost industrialization.
Government would, therefore, mainstream technical and vocational education and expedite action on the conversion of polytechnics into technical universities to produce the required manpower to feed the oil and gas industries.
The Minister for Petroleum, Mr Emmanuel Armah-Kofi Buah, said the project had the potential to develop and change lives of residents of Sanzule and the entire nation.
He thanked the World Bank and the IFC for their partnership to ensure the success of the project.
On the Local Content Policy, Mr Armah said out of the 7,000 workforce employed so far in the oil and gas sector, over 5,000 were Ghanaians and over 150 indigenes from Sanzule have been employed by ENi Ghana Ltd.
The Minister said the Sankofa Oil Company had joined the league of oil companies in Ghana to create 100 jobs thereby reducing the unemployment rate in the country.
The Italian Ambassador to Ghana, Madam Laura Carpini, said Italy and Ghana would deepen partnership in a win-win situation to make a turning point in Ghana’s economy.
The Managing Director of ENi Ghana, Mr Fabio Cavanna, said the facility would generate 80,000 barrels of oil a day and provide 1,500 indirect jobs to Ghanaians.
He said gas would be explored and treated at Sanzule by Ghana Gas and to Aboadze for a 20-year period with support from the World Bank.
Mr Cavanna said ENi Ghana was in league with partners in the Jubilee Field to ensure that the FPSO Kwame Nkrumah was restored.