President John Dramani Mahama says cabinet has decided to name all the country’s FPSO’s after past Presidents who have contributed to the discovery and production of oil and gas.
President Mahama said this when he inaugurated the three tier Atuabo Gas Processing Plant in the Western Region
He said the Atuabo Gas project is going to be a game changer in ensuring macroeconomic stability.
He said this will reduce the pressure on the country’s foreign exchange reserve.
The Project he said will save the country about half a billion dollars a year by way of purchase of light crude.
President Mahama enumerated other benefits Ghana will derive from the Atuabo Gas project.
President Mahama stated that a high level team has been set up to deal with the debt management and financing of the gas value chain.
A minute silence was observed for Late President John Evans Atta Mills.
Meanwhile, the Chief Executive of Ghana Gas Company, Dr George Sipa Yankey says the cost of the Atuabo Gas Processing Plant is one billion dollars.
He said GH¢21 million has been paid as compensation to communities affected during the execution of the project.
Dr Yankey said despite challenges encountered in the construction of the project it has been worthwhile.