Azienda General Italiano Petroli (AGIP), an Italian automotive gasoline and diesel retailer, on Tuesday announced that it had stage a comeback to Ghana to boost the production of gas for the generation of electricity in the West African sub-region.
The company, with the logo of a six-legged dog, and represented in a number of African countries, existed in Ghana since 1957, but folded up its operations in 2000.
Mr Paolo Scaroni, Chief Executive Officer of the parent company ENI SpA, announced the comeback, when he led a four-member delegation to meet President John Evans Atta Mills at the Osu Castle, in Accra.
With a pat at Ghana's back on its brilliant democratic credentials and congratulating President Mills on winning last year's presidential elections, Mr Scaroni said the Company was excited at the discoveries of oil and gas in Ghana.
He however said the production of gas for the generation of electricity was not enough and a number of countries had to import their gas supplies.
Consequently, AGIP in partnership with Vitol, a company dealing in crude oil trade, would build upon existing refinery structures for the production of the gas to be supplied from Ghana to other West African countries.
Mr Scaroni recalled Italian assistance through AGIP in the building of the Tema Oil Refinery, formerly Ghana Italian Petroleum Company (GHAIP) in the 1970s and said the Company have a number of initiatives and ideas to start its participation in the energy sector very soon.
President Mills said the nation was grateful to the Company for returning to do business.
He assured investors that Government would create the conducive environment to protect their investments.
President Mills asked the investors to be equally transparent in their dealings, and use more local content in their operations to help to create jobs for Ghanaians.
The President expressed the commitment of Government to be accountable, open, transparent and responsible in the use of the oil proceeds to improve the lives of Ghanaians.
Government was also putting up the necessary framework that would facilitate the operations of the energy industry.
Also at Castle to call on President Mills was a delegation from the US- based Hess Corporation led by its Chief Executive Officer and Chairman Mr John Hess, who exclaimed "we are excited about the petroleum opportunities in Ghana".
President Mills pledged Government's support to the company.