Ghana says it is optimistic oil will be found in commercial quantities in the south-east coast of the country.

oil rig
oil rig
A geophysicist with the Ghana National Petroleum Commission (GNPC), Selorm Dogbevia, told Xinhua in an interview the state oil company and its partners –GNPC Explorco, Swiss Africa, Heritage Energy and Bluestar Energy – had so far dug 17 wells in the Keta basin.

“Indications of oil have been seen but not in very large quantities. We are introducing latest technology to see if commercial quantities could be discovered,” he said.

Dogbevia expressed optimism that oil could be found in commercial quantities in the south-east part of the West African country, saying: “I am optimistic we could find oil in commercial quantities in this part of the country.”

He observed that the benefits of commercial discovery of oil takes time to be realized, and urged the people to lower their expectations but train themselves to acquire technical and vocational skills required by the industry.

“It is important for people to acquire relevant skills towards possible discovery. It takes a long time to produce but it requires that we should get ourselves ready,” the GNPC expert said.

Plans by successive governments for oil exploration in the Keta basin have been on the table for over a decade; however, exploration challenges, both onshore and offshore, have caused delays.

The Keta basin is part of the larger Voltain basin (the biggest landmass of Ghana, occupying one-third of the whole country) from the coast through to the middle belt to the north of Ghana.

The bloc is estimated to cover an area of 3,000 square kilometers with about hundred million barrels of oil.

The government here, represented by GNPC, in 2016 entered into a joint venture agreement with Swiss African Oil Company Limited and PET Volta Investments to undertake exploration activities in the Keta basin.

This project is estimated to create employment for the youth in communities within the basin catchment area.

Ghana discovered oil in commercial quantities in 2007 in the south-western part of the country off Cape Three Points along the coast of West Africa.

It however commenced actual production in a record time in December 2010 at the Jubilee Field. Twenty-three other wells were dug and the second oil field, the Tweneboa-Enyenra-Ntomme (TEN), is expected to commence production this year while the third production field, Sankofa, is expected to come on stream in 2018.

The 2016 Semi-Annual Report of the Public Interest and Accountability Committee (PIAC), a body set aside by the country to monitor utilization of petroleum revenue, says the country has so realized some 3.2 billion United States Dollars (USD).

Petroleum Commission (PC), the regulator of upstream petroleum, also says close to 7,000 people have been employed in the industry since commercial production began in the country. Enditem

Source: Francis Tandoh