ASTM International, a global standards body, has declared its intention to assist Ghana in its efforts to build a world-class petroleum sector in the sub-region.
The commercial standards developer with headquarters in America will offer technical support to boost Ghana's emerging oil and gas sector's dependability and profitability.
This resulted from a discussion between the ASTM team and Prof. Alex Dodoo, Director General of the Ghana Standards Authority (GSA), outside the 66th Council Meetings of the African Organization for Standardization in Yaounde, Cameroon.
According to Professor Alex Dodoo, the ASTM has created petroleum industry standards that can aid Ghana's efforts to develop a viable sector.
"The Government of Ghana is committed to sustainable development of its oil and gas resources. hence welcoming any relationship in that area that is mutually advantageous. Our goal in becoming a significant player in the international petroleum business is demonstrated by our Petroleum Hub initiative, according to Prof. Dodoo.
The country of West Africa is setting itself up as a leader in the production of hydrocarbons with the hopes of building robust midstream and downstream sectors over the next ten years.
James P. Olshefsky, Director of External Relations at ASTM, asserted that Ghana's ability to properly manage its oil assets depends on the capacity enhancement of indigenous participants in the petroleum sector.
In order to enhance commerce between Africa and the United States, Mr. Olshefsky remarked, "We think that by working together and via partnerships, we can speed up the acceptance and reference of ASTM International standards.
Project for a Petroleum Hub in Ghana
The nation intends to build a $60 billion petroleum hub in the Western area with the goal of becoming the downstream hub for West Africa and a top-tier exporter.
The hub will host four refineries with a combined daily production capacity of 600,000 barrels, with the aim of meeting half of the sub-petroleum region's needs. Each year, it intends to store and distribute 30 million metric tonnes of oil.
Streamlining petroleum standards in Africa, according to GSA Director-General Prof. Alex Dodoo, will encourage uniformity and make compliance easier throughout the continent.
He said that by bringing standards in the area into alignment, "parties across the value chain would be able to demonstrate that products, services, or processes are in accordance with applicable regulations, while boosting business."
A three-year initiative to standardise petroleum standards in West Africa is being worked on by ASTM International and the American Petroleum Institute (API).
The initiative helps developing nations build their capability in terms of standards creation, conformity assessment processes, and private sector involvement.
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