The Ghana National Petroleum Corporation (GNPC) and the University of Cape Coast have signed a Memorandum of Understanding that will enable the GNPC to put up Research Chair in Petroleum Commerce on the University campus.
The agreement which will see to it that, the Institute of Oil and Gas Study in the University receive such a research department was appended by the Chief Executive Officer (CEO) of the GNPC Dr K. K. Sarpong and the University’s Vice Chancellor Professor Joseph Ghartey Ampiah.
The agreement will enable the GNPC pay an amount of $250,000 per year for four academic years for the establishment of the Research Chair.
Dr K.K Sarpong stated that, the agreement is to help build the student capacity in UCC as well as to strengthen the petrochemical industry.
“We need to expand our operations by building the capacities of our institutions to produce the desired resource materials for the country.
“We need to support commerce, education in relation to the optimal exploration, delineation and development of Ghana’s hydrocarbon resources.”
Speaking on the agreement, the Vice Chancellor has hailed the initiative saying it is a dream come true for the University.
He further said that the School is trying to enter similar agreements with other organisations to establish a School of Governance and Law in the UCC.
He indicated, “We have plans to establish a School of Governance and Law. Our University has received this project as a key treasure that will accelerate the infrastructural and human resource development of the University.
“We can’t hide our joy. This is the best partnership that has ever hit the University after its inception in 196”.