Ghana Oil Company (GOIL) has constructed a 13.5 million litre marine gas oil storage facility at the Takoradi Port to support the oil and gas industry.

The $15 million facility would supply marine gas oil to upstream vessels and FPSOs that will dock at the Takoradi Port in a process called bunkering.

The project was financed solely by GOIL through its own internally generated funds.

The three-tank farm storage facility is fitted with motorized valves and automatic control systems for dispatching the products to the vessels.

According to GOIL, the facility meets international standards in terms of storage, distribution and safety.

It also has the system to filter products to be supplied to the vessels that come onshore, and modern separator system to ensure that every effluent from the tank farm is properly treated.

It also has an installed automatic fire-fighting system with foam and water to ensure safety at all times.

Commissioning the facility at the Takoradi Port on Wednesday, Patrick Akorli, Managing Director and Group Chief Executive Officer (CEO) of GOIL, explained that the marine gas project was borne out of the realization that with the oil find, vessel activity would increase in the Takoradi Oil enclave.

“The supply of the marine gas oil is to meet the expected increase in the number of vessels expected to berth at the harbour,” Mr Akorli added.

GOIL realized that with the discovery of oil, services rendered should be to the benefit of the country. Ghanaians must be at the forefront of participation in the businesses accrued from resources of the country.

“This project, no doubt, will help revitalize the Takoradi Port, energize general economic activity at the harbour and bring back to life the once vibrant Sekondi-Takoradi.”

The Board Chairman of GOIL, Prof William Asomaning, indicated that when the upstream oil business began, it became clear that there was a clear deficit in the availability of storage facilities onshore in Ghana to attract the many vessels to the country.

“GOIL seized the opportunity, having understood the requirements of the industry to undertake feasibility studies and appraisals,” he mentioned.

He stated that “Backed by successful appraisals, GOIL readily accepted the invitation of Vikings Offshore to construct the Marine Gas Storage facility, which has the capacity of 13.5 million litres.”

Prof Asomaning pointed out that the project would position GOIL as an important player in the bunkering business and redirect significant volume of business activity in the oil and gas sector to the Takoradi Port.

“The Takoradi Port will have its fair share of the revenue while the state benefits tremendously in the form of tax revenue,” he pointed out.

Energy Minister Boakye Agyarko, in a speech read on his behalf, mentioned that “This means that vessels docking at the port will have ready and available marine gas oil instead of resorting to ship-to-ship fueling on the high seas,” he stressed.

Western Regional Minister, Dr Kweku Afriyie, reiterated government’s commitment to creating an enabling environment for businesses operating in the country to thrive.