Curse Or Blessing? Oil Discovery In Ghana

Curse Or Blessing? Oil Discovery In Ghana

From AllAfrica

Music, dance and fanfare dominated the day as then-President John Atta Mills, turned the valve on an offshore platform to signify the commercial production of oil and gas in commercial quantities in the Jubilee field of Cape Three Points in the Western Region of Ghana.

It is situated in the Deepwater Tano and West Cape Three Points blocks of the Tano Basin, which is one of the three offshore sedimentary basins in Ghana. The field is jointly owned by a consortium of companies called Jubilee Joint Venture and managed by Tullow Ghana Ltd, a subsidiary of UK-based Tullow Oil Plc.

Other five members of the consortium are – Kosmos Energy, Anadarko Petroleum, Petro SA and the state-owned Ghana National Petroleum Corporation (GNPC), which discovered the Jubilee field in 2007 at the time Ghana was marking its 50th anniversary.

It was hoping to produce 55 000 barrels of oil per day (bpd), increasing to 120 000 barrels in six months. It currently produces 100 000 barrels of oil per day (bpd).

President Mills, who on that day on December 15 in 2010 wore safety gear and blue overalls to open the valve in a televised ceremony some 60km off the coast, from the town of Takoradi, said this was expected to earn more revenues for the development of the country.

Read more at AllAfrica