GOIL inagurates $15 million facility in Takoradi

Ghana Oil Company Limited (GOIL) has inaugurated a 13.5 million litre marine oil and gas storage facility at a cost of $15 million in Takoradi.

The facility, fitted with the latest modern environmental safety equipment and standards, will enable the company to store and subsequently, supply marine oil and gas at the Takoradi Port to fuel vessels that dock at the Takoradi Harbour.

At the inauguration in Takoradi, the Managing Director and Group CEO of GOIL, Mr Patrick Akpe Akorli, said the facility was funded by the company from its own internally generated resources. 

He also commended several partners of the project including the Ghana Ports and Harbours Authority and other stakeholders for their collaboration in the execution of the project.

He observed that there were several initial hiccups before the start of the project, explaining that GOIL’s investment, wholly financed from  internally generated funds, was a testimony  that Ghanaians could rise to the occasion to utilise its own resources for the benefit of the people.

He said he was sure the project would help revitalise the Takoradi Port and increase economic activities within Sekondi and Takoradi, adding that  “this will significantly benefit the country in terms of tax revenue generation.”

The project would position the company as an important player in the bunkering sector and enable it to benefit from the huge trade in marine trade, 60 per cent of which is being done offshore.

A Deputy Minister of Energy, Dr Mohammed Amin Adam, lauded GOIL for the pioneering role in the local content policy.