Government Assisting TOR To Refine Oil From Jubilee Field

Mr. Buah (right)The Tema Oil Refinery will require $ 600 million to retool and undertake repair works to enable it commence full operations.

Government is also facilitating the process for the refinery to acquire licence of clarity to enable it to acquire and refine crude oil from the jubilee field.

Minister of Energy and Petroleum, Mr. Emmanuel Armah-Kofi Buah, disclosed these when the ministry took its turn at the Meet-the-Press Series, in Accra on Tuesday.

Currently, he said, TOR was facing operational challenges, which had to be addressed to enable it go into full production as it used to do in the past.

The minister said government was passionate about the challenges confronting the company realising its capability, potentials and contribution to the socio-economic development of the country. He said government was working assiduously through its Board to ensure that the company bounced back.

He stated that because of the challenge it faced, the company had to reduce its workforce to about 500.

Mr. Buah said government was aware of the capital intensiveness of operating such a sector vis-à-vis the colossal amount of about $ 2million it spent to demurrage crude oil.

He said, TOR had the capacity to refine 45,000 tons of crude oil a day.

Mr. Buah said ‘we have to be strategic in every decision we make so as to bring the company back and also help to reduce the average production lost nine per cent’.

On renewable energy, the minister said the sector had received unprecedented expression of interest from independent power producers to invest in the various subsectors of the industry.

As of August this year, the minister said, a total of 3,907 mega watts of provisional licenses had been issued to 37 IPPs by the Energy Commission.

‘It is interesting to point out that the development of the solar farms is the most sought for these IPPs with total capacity of more than 2000 mega watts and this must be possible due to the rather high feed-in tariff and the short lead time for construction’, he said.

The minister noted that the second phase of the solar park at the Noguchi Memorial Institute had been completed and was inaugurated bringing to a total installed solar capacity at the University of Ghana to 715 kilo watts peak, making it the single largest institution net metering solar facility in the sub region.

More than 35,000 solar street lights had been installed in various parts of the country with steps being taken to rehabilitate existing street lights in the regional capitals to enhance security in the cities.

On exploration of oil at potential sites, the minister said feasibility studies had been conducted in some areas awaiting Oil exploration.

Work at the Atuabo gas plant, Mr Buah said, was nearing completion, noting that it would provide adequate gas to power thermal plants among others, and expected government determination to achieve the task it has set.

He said free distribution of cylinders, burners and lanterns have also been distributed across some parts of the country.

By Francis Asamoah Tuffour 

 

 

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