Ghanaian businessman set to invest in Oil & Gas projects

Earlier this year, Lakeland Oil and Gas International Trading and Supply Company Limited,owned by Ghanaian businessman, Henry Djaba, signed agreements for the development of two Oil Blocks with a local partner in Guyana. The agreement was signed on 11th March 2024. Lakeland, with an interest to acquire more Oil Blocks in Guyana,will now go ahead […]

Earlier this year, Lakeland Oil and Gas International Trading and Supply Company Limited,owned by Ghanaian businessman, Henry Djaba, signed agreements for the development of two Oil Blocks with a local partner in Guyana.

The agreement was signed on 11th March 2024.

Lakeland, with an interest to acquire more Oil Blocks in Guyana,will now go ahead to engage directly with the Government of Guyana in the next bid round or by direct negotiation if possible.

At the recent Afrexim AGM that was held in Nassau, Bahamas, it was confirmed that one of Lakeland Exploration Company Limited’s group of companies has already signed Agreements and is focusing on acquisition of strategic oil assets in the South American / Carribean region and on the African continent.

It has been confirmed that Namibia, Chad and Suriname are the other areas Lakeland is looking at investing a further $3bn (three billion US Dollars).

Lakeland Group, it has been confirmed is set to invest $6bn (six billion US Dollars) as follows : $1bn (one billion US Dollars) in Guyana $3bn (three billion US Dollars) in Namibia, Chad and Suriname; $500m (five hundred million US Dollars) in an on-going Refinery project; and $1.5bn (one and a half billion US Dollars) in an FLNG project.

Agreements have already been signed with local partners in Guyana to invest $1bn (one billion US Dollars in a Deep offshore and a Shallow oil block in Guyana.

According to Djaba, Oil prices having maintained consistently high levels for such a long period is a major factor in the Chairman’s drive to enhance Lakeland’s portfolio by acquiring strategic assets in different countries.

In a further development, one of the Lakeland Group of companies, Lakeland International Energy Ltd is also investing a further $1.5bn (one and a half billion US Dollars) in Gas projects and are in discussions to secure a major FLNG project as well as investing $500m (five hundred million US Dollars) in an on-going Refinery Project.