Lloyd’s Register has signed an agreement with GOSCO to form a joint venture dedicated to providing well project management, well engineering and associated site survey, geotechnical and rig inspection services, in the territorial waters of Ghana
The aim of the joint venture company, known as ‘Lloyd’s Register Wells Ghana Limited’, is to make world-class engineering and operations, risk management and performance solutions available to support operators deliver safe, cost-effective and compliant E&P activity in Ghana.
Matt Rothnie, Vice-President for the Wells business at Lloyd’s Register, says, “We have joined forces with GOSCO to set up this joint venture as a response to growing industry interest in Ghana’s oil and gas potential along with the requirement to build capability in the Ghanaian E&P sector. This move is another example of Lloyd’s Register’s strategy to work in partnership with local oil and gas players to benefit from their local experience whilst providing the benefit of Lloyd’s Register’s global knowledge and technical expertise.” The new joint venture will be an indigenous Ghanaian company and based in Accra.
Rothnie highlights: “We believe this joint venture will create good long-term opportunities for Ghana’s E&P industry as we look to collectively achieve the highest levels of safety and performance providing the very latest ‘know-how’ and application of technology for well operations.”
Michael Amoah, CFO of GOSCO says: “We are very pleased to have formed our joint venture with Lloyds Register; we see real opportunities in key aspects of the upstream value chain for joint ventures which bring together the operational experience of Ghanaian companies with the niche high quality skills of an international partner.”
Scottish Development International, the Scottish government’s international arm, helped Lloyd’s Register in the joint venture development.
Gary Soper, Africa Regional Manager for Scottish Development International says: “Working from our West Africa hub in Accra, Ghana, we are well placed to introduce West African companies to Scotland’s oil and gas supply chain to access collaborative opportunities in the region. We are very pleased to see Lloyd’s Register forge this relationship with GOSCO in Ghana and help to develop their plans for current and future African oil and gas fields. Lloyd’s Register has a long tradition and experience in resolving and sharing solutions to complex commercial situations that can only help to bring benefits to the emerging oil and gas markets across the continent, especially at this critical time of low oil prices and the need for quality, independent cost-effective safety and performance solutions.”
