McDermott , a leading provider of integrated engineering, procurement, construction and installation (EPCI) services for upstream field developments says it is optimistic about the prospects of Ghana’s oil and gas industry and is committed to the Ghanaian market.
The company delivers fixed and floating production facilities, pipelines and subsea systems from concept to commissioning for complex offshore and subsea oil and gas projects to help oil companies safely produce and transport hydrocarbons.
McDermott International, Inc. operations in Ghana entered into joint ventures with Hydra Offshore Group Ghana in order to pursue key offshore opportunities in Ghana and other developments in the African market.
Speaking to Journalists on the sidelines of a seminar on the company’s operations Mr. Iain Grainger, Vice President for Africa and Europe, McDermott International said developing a long term relationship with Ghana and the rest of Africa was the focus of the company.
“There are great opportunities that we see in Ghana so we are here to stay, however the challenge is we have to keep monitoring developments on the world stage. We have small establishments here and if we are successful and I hope we are successful, we will have to grow our capabilities in country,” he said.
He said, “We have submitted bids to a number of operators of the oil fields in the industry in Ghana and we are very positive about the prospects.”
Mr. Grainer said, “We are assessing the options available to us; once the Jubilee field is developed, there will be further expansion with additional facilities that will present us with great opportunities. Ultimately, the TEN project which is yet to be developed will have to be expanded and we are looking forward to being part of the success story.”
Asked whether the company has plans to set up a fabrication yard in Ghana he said “it will depend on the market, the size of the market and how reliable it is in the face of recent trends in the industry. It could be engineering, fabrication, could be provision of logistics and we will look to expand as the market expands.”
“At $30 per barrel today, it will be challenging to make any large investments with the increasing uncertainty about the oil price recovery so what we will do in Ghana as we do in other locations is to monitor the market,” he said.
Mr. Grainger said, “We are looking; we are talking to the clients; we are evaluating what type of projects we are going to go into and when we are going to carry them through and if the market justifies them then we look to invest further, to do more work in-country.”
Mr. Delali Otchi, Group CEO, Hydra Offshore Group said his was looking forward to a long and successful association building on McDermott’s extensive experience.
By David Adadevoh