Research study shows an empirical analysis of the demand for port services generated by the deep water oil and gas industry during its phenomenal growth during the last decade. During this period, the deep water oil production registered a nine-fold increase while the gas production increased sixteen fold. In addition, technological developments in seismic data acquisition, large deepwater field discoveries, and the innovative production systems have completely transformed the industry and the logistical support network. Although the logistical support system is a vital component of the industry, empirical studies analysing the supply network adjustments from the perspective of port services are currently not available. Therefore, the demand analysis in this report will fill that void and is expected to be useful for port planning and investment decisions.
The Atuabo FreePort is a green field project to be developed as Ghana's dedicated Oil and Gas hub. It is strategically located in the Western Region within close proximity to Ghana's oil and gas enclave. The promoters of Atuabo FreePort envisions it to become the gateway to West Africa's offshore oil and gas industry and a regional hub supporting the activities of not only the upstream oil and gas companies but also the service companies that support them.
As a Free Port, Atuabo will provide a hitch-free, competitive and efficient hub to support the growing West African Oil and Gas Industry. All goods imported into Atuabo Free Port will be exempted from customs duties and taxes as long as the goods remain in Atuabo Free Port. International shipping companies, freight forwarders, packing and customs agents will be available at Atuabo FreePort.
Atuabo Free Port will be developed around four distinct zones to create a one stop Oil and Gas Hub for West Africa:
A deep-sea harbour with water depth of 8.5 m in the access channel and alongside depth ranging between 9 m and 16.5.
Logistics base to support operations of offshore oil and gas prospecting and production platforms, including repair of Oil Rigs and Support Vessels.
Base for subsea fabrication to enable the service companies to construct larger subsea elements for the industry within Ghana.
The Atuabo FreePort will provide commercial and residential solutions in this area including the following:
Office park for companies seeking office space as well as a Business class hotel and conference facilities.