28 January 2015
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GE Africa (Lagos)

General Electric Commits $3.5m for Training and Capacity Building in Ghana's Oil and Gas Industry

press release

The partnership seeks to build capacity in the Oil & Gas sector as follows:

  • Partners Ghana National Petroleum Corporation (GNPC) and Ashesi University College (Ashesi)
  • Invest in the development, training and financing of small and medium sized Ghanaian businesses
  • Award scholarships to students in Ghanaian universities and vocational institutions

General Electric (NYSE: GE) has committed $3.5m for capacity building in the Oil and Gas industry in Ghana. To this end, GE is working with GNPC and Ashesi to build capacity for the country's nascent oil and gas sector. The three organisations have signed a Memorandum of Understanding (MoU) on research and training of professionals in the oil and gas sector. The historic signing was witnessed by GE global chairman and chief executive Mr Jeff Immelt who is visiting Ghana.
Through its Oil and Gas University initiative GE is working with Ashesi to develop a curriculum applicable to the Ghanaian Oil Industry. A scholarship fund will then be made to support students of Ghanaian universities and vocational institutions who are studying Engineering or Oil & Gas related fields.
The CEO of GE Oil & Gas for Africa, Mr Marco Caccavale disclosed that the collaboration will promote knowledge transfer through GE funded academic scholarships for universities, professional seminars and courses on leadership and technical issues on Oil and Gas.
The Managing Director and Chief Executive of the GNPC Mr. Alex Mould said he was delighted to work with GE on a comprehensive plan on capacity building and technology transfer. He disclosed that GNPC will provide technical input for O&G training as well as a number of candidates for training at the O&G University.
The first beneficiary of the program, Mr Richard Asmah, an engineer at GNPC will begin a five-month training programme at the GE O&G University in Florence. During the course, candidates learn managerial and technical information, to consolidate their personal background in the oil and gas sector. Under the agreement GE and GNPC will also invest in the development, training and financing of small and medium sized Ghanaian suppliers and service providers to support their potential long term entry in to the O&G/ GE supply chain.
The founder and president of Ashesi University College, Patrick Awuah, indicated that Ashesi will provide assistance and advice as to how best to achieve the aims of the Collaboration, and where necessary make its facilities available to the parties. He said Ashesi was glad to be at the forefront of this comprehensive initiative that will ultimately help Ghanaians acquire the technical expertise required to manage the growing Oil & Gas industry.
GE is the world's leading technology and financial services company, with over $140 billion in annual revenue. In Ghana GE operates in the Power & Water, Oil &Gas and Healthcare businesses and has grown its operations by more than five-fold since 2010.

About GE
GE (NYSE: GE) works on things that matter; the best people and the best technologies taking on the toughest challenges; Finding solutions in energy, health and home, transportation and finance… Building, powering, moving and curing the world; not just imagining, Doing! GE works.
For more information, visit the company's website at www.ge.com or contact:
Osagie Ogunbor (Communications Manager GE West Africa) on osagie.ogunbor@ge.com

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