Minister of Trade and Industry, Kobina Tahir Hammond, has indicated that plans by Sentuo Oil Refinery Limited (SORL) to commence commercial production of petroleum products in the country will boost Ghana’s industrialisation agenda.
According to him, the refinery which has the capacity to produce a total of 5 million metric tons per annum (MTPA) across two phases, would be critical to the growth of the oil and gas sector, as well as, address fuel consumption needs.
In the first phase of the project, the refinery will produce between 1-2 million MTPA while looking forward to increase the figure to around 2-3 million MTPA in the second phase.
Speaking with journalists after a familiarization visit to the refinery at Tema, the minister said the commencement of operations is expected to address oil refinery challenges that have plagued Ghana over the years.
“Ultimately after the second phase of the refinery has been completed, it will provide enough petroleum products to meet the entire needs of consumers and Ghanaians especially and to me is something to be cheerful about,” K.T Hammond said.
He continued, “The amount of money that goes into the importation of the petroleum products is phenomenal and if this facility is going to address that, we should all be going singing praises of the President who has ensured that this facility has been built on the back of the One-District-One Factory initiative”
The trade minister however gave the assurance that some propositions made by the management of the oil refinery would be looked into and addressed in due course.
“The structure of this factory should be a test run from crude oil made right here in Ghana and I’m going to engage with the Minister of Energy and take it from there,” KT Hammond stated.
The Sentuo Oil Refinery sits on a 110-acre land size with $1.98 billion investment made towards its construction.
The first phase of the project is expected to kick off in August 2023 after combined tests have been completed and commissioned.
It aims to reach a production of up to 100 percent of national consumption by the time the second phase of the project is completed.
Meanwhile, the facility is expected to refine Gasoline, Jet Fuel, LPG, Sulfuric Acid, Diesel, Fuel Oil, Ammonia and among others spanning across the two phases.
It has also currently employed over 900 Ghanaians with access to direct employment.
Source: www.ghanaweb.com