Accra, July 27, GNA – The Ghana Oil Company Limited (GOIL) has signed a contract with SK Shipping Company Limited of Korea to supply Marine Gas Oil (MGO) to its customers servicing the exploration companies.

The contract was signed by Mr. Yaw Agyemang-Duah, Managing Director of GOIL, and Mr. Kyuho Whang, President and CEO of SK Shipping, and witnessed by officials of the two companies during a visit to Korea this month by GOIL officials.

In an interview with Ghana News Agency in Accra on Wednesday, Mr Agyemang-Duah said the agreement was to ensure that GOIL maintained its dominance and continued to provide market leadership in bunkering operations in Ghana.

“As a corporate objective, GOIL has sought to partner a company which is internationally recognized in its own right, and which could be relied upon to deliver MGO of the quality required by GOIL, using vessels that are acceptable,” he said.

“SK Shipping, a part of the global company SK Group, was found to meet the required criteria,” he added.

Mr Agyemang-Duah said the in addition to the contract GOIL signed a Memorandum of Understanding with SK Shipping to govern other ship-to-ship operations that GOIL might have to service.

The signing of the agreement and MOU with SK Shipping comes on the heels of recent agreements GOIL has signed with Owere Mines to supply the fuel and lubricant needs of its mining operation; the Ghana Navy to permit GOIL to use the Sekondi Naval Base to bunker supply vessels of exploration companies in the Western Region; and collaboration with Chase Petroleum to jointly rehabilitate, expand and operate the Takoradi Fuel Storage Depot of GOIL.

According to the GOIL Management, these agreements were all expressions of the company’s desire to enter into strategic partnerships and alliances which ensured an unhindered ability to deliver world class services and products to its customers at competitive rates.