Energy Ministry signs MOU for Floating Storage Oil

The Ghanese Ministry of Energy and Kampac Oil Company of the US have signed a 70-million dollar Memorandum of Understanding for a Floating Storage Oil (FSO) Unit, off the shores of Tema. Professor Mike Ocquaye, Minister of Energy, signed for Ghana, while Mr Charles Ampofo, Chairman of Kampac Oil, signed for his company.

Mr Ampofo said energy had become the most defining issue in the country. “One thing is certain, the era of dependence on other countries for easy oil is over. What we do next will determine how well we meet the energy challenges of this century and the next.”

GhanaWeb