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Hon. Emmanuel Armah-Kofi Buah, Minister for Petroleum, and Mr. Alexander Novak, Minister of Energy of the Russian Federation, held an official working meeting on possible ways for boosting and strengthening cooperation in the energy sector in the Republic of Ghana.

During the meeting, both sides approved the intention to facilitate Russian companies participate in oil and gas upstream exploration and power generation building projects as well as in energy infrastructure in the Republic of Ghana.

The parties further discussed Rosneft and Gazprom, both Russian companies, the level of involvement in the industry.

The Petroleum Minister later explained that power supply, energy management and industrial development are inter-connected and thus remain key factors of the economy.

Our task is to create more job opportunities as well as to improve standard of living for the population and this we can when we have sustainable and sufficient energy supply for domestic consumption and most probably for export to countries in the sub-region of West Africa.

Hon. Buah, however, informed that Russia’s Lukoil, one of the world's biggest integrated companies for production of crude oil and gas, and refinery into petroleum products and petrochemicals, has already operated for a number years in Ghana, adding, “it is now necessary to invite Rosneft and Gazprom to join in optimizing overall production in the energy industry”.

Rosneft and Gazprom are reputable leaders of Russia’s petroleum industry.

The Minister further re-assured state support for Russian companies that would be engaged in the energy sector in the country. He said assertively that investment guarantees were also provided for foreign investing companies in the energy industry.

Dr. Kodzo K. Alabo, Ghana’s Ambassador Extraordinary and Plenipotentiary to the Russian Federation & Commonwealth of Independent States (CIS) and Mr. Alex Mould of GNPC also participated in the discussion.

After the meeting, Ambassador Alabo described the deliberation with the Russian officials as “very fruitful and successful” but it needed an intensive and consistent follow-up especially working on the various proposals put forward by the meeting and with new emerging tasks relating to the energy project for the benefit of the people and the Government of Ghana.

According to the Russia’s Ministry of Energy press release, the meeting was held within the framework of the Joint Russia-Ghana Economic and Scientific-Technical Commission.

The Joint Russia-Ghana Economic and Scientific-Technical Commission, which was Co-Chaired by Mr. Kwesi Kwartey, Deputy Minister of Foreign Affairs and Regional Integration, and Mr. Valeriy Anatolevich Pak, Deputy Minister of Natural Resources and Ecology, held its first joint meeting in October 2014 and planned to hold the next meeting in 2016.