Name and Location
New oil logistics port, Ghana.
Project Description
London Stock Exchange- and JSE-listed Lonrho, through its subsidiary Lonrho Ports, plans to develop a new oil logistics port, on a 2 000 ha site, in western Ghana, to play a key role in servicing the growing demands of the offshore oil, gas and petrochemicals industry in the country. Phase 1 of the development will traverse an area of 200 ha and will include an oil logistics port to provide international standard, efficient logistics for offshore oil companies as they increase production from Ghana.
The new port will be located near the oil-bearing Jubilee field, substantially improving the current logistics for servicing the offshore rigs. The project has an initial concessional term of 25 years, with an option to renew for a further 25 years. It is envisaged that the facility will be a similar operation to Lonrho’s successful Luba Freeport that handles all the oil industry requirements in Equatorial Guinea.
Value
The value of the project has not been disclosed.
Duration
Not stated.
Client
Lonrho Ports.
Key Contracts and Suppliers
None stated.
Latest Developments
Lonrho Ports has signed a memorandum of understanding (MoU), with Ghana’s Ministry of Transport as the sole developer and manager of the proposed oil logistics port.
The MoU grants Lonrho Ports the sole right, for one year, to undertake an environmental-impact study, wave and bathometric surveys, as well as to design and optimise the project. Thereafter, subject to the viability of the project, the company will be granted the sole right to develop and manage the free port.
On Budget and On Time?
The project is still in the early stages and is subject to prefeasibility studies.
Contact Details for Project Information
Lonrho, David Lenigas, tel +44 20 7016 5105.