Saturday, December 18, 2010

Ghana Oil Begins Pumping for First Time

by BBC News, Africa, December 15, 2010 13:08 GMT
The West African nation of Ghana has begun to pump its first commercial oil after the discovery of the offshore Jubilee Field three years ago.

President John Atta Mills turned on the valve at an offshore platform.

A consortium led by UK-based Tullow Oil [Its partners include U.S.-producer Anadarko Petroleum, U.S.-based Kosmos Energy, Ghana National Petroleum Corp, Sabre Oil and Gas and E.O. Group - D.R.] hopes to produce 55,000 barrels per day, increasing to 120,000 barrels in six months. ...

               Ghana's offshore oil fields are estimated to contain about 3bn barrels

The BBC's David Amanor in the capital, Accra, says there a positive mood about the pumping of the country's first oil - and plenty of advice about how the revenue should be spent. More

(Notice in the picture above, Kwame Nkrumah, the Jubilee Floating Production Storage and Offtake-i.e. FPSO-vessel. The first oil from the field is expected to be exported in January 2011. Ghana has produced oil in the past, but only in very small quantities by industry standards. -- D.R. It is worth stressing that Ghana is already a major producer of cocoa and gold, as pointed out in the article.)

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