Oil reserves in Ghana
Commercial production of oil scheduled to begin in Ghana in the first quarter of 2010 with initial output of 120,000 barrels a day.
The second phase of the oil productions is expected to in output to 250,000 barrels in day in 2012.Total investment requirement for the production is 5 billion Dollars.
A test conducted by Kosmos Energy of the United States of America (USA) in the Jubilee Well in the Tano Basin yesterday flared 5,000 barrels of oil.
The successful test run yesterday cleared any doubts about abundant oil reserves in Ghana and it will pave the way for commercial productions of the black gold in the country.
Briefing President J.A Kuffour at the Castle, Osu, yesterday on the result of the test run, Mr. Jim Mosselman, the Chief Executive Officer of Kosmos, said, "Today is, indeed, a glorious day for Kosmos and Ghana.
The significant oil find and the prospect of commercial exploitation of the product are occurring at the same time of soaring oil and food prices on the world market, a situation which is causing a lot of ripples in the economies of developing countries such as Ghana.
Responding, President Kuffour, who was apparently excited, said he so far impressed with the transparency with which the Kosmos was conducting its operations and also the relationship between the company and the Ghana National Petroleum Corporation.
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The second phase of the oil productions is expected to in output to 250,000 barrels in day in 2012.Total investment requirement for the production is 5 billion Dollars.
A test conducted by Kosmos Energy of the United States of America (USA) in the Jubilee Well in the Tano Basin yesterday flared 5,000 barrels of oil.
The successful test run yesterday cleared any doubts about abundant oil reserves in Ghana and it will pave the way for commercial productions of the black gold in the country.
Briefing President J.A Kuffour at the Castle, Osu, yesterday on the result of the test run, Mr. Jim Mosselman, the Chief Executive Officer of Kosmos, said, "Today is, indeed, a glorious day for Kosmos and Ghana.
The significant oil find and the prospect of commercial exploitation of the product are occurring at the same time of soaring oil and food prices on the world market, a situation which is causing a lot of ripples in the economies of developing countries such as Ghana.
Responding, President Kuffour, who was apparently excited, said he so far impressed with the transparency with which the Kosmos was conducting its operations and also the relationship between the company and the Ghana National Petroleum Corporation.
You can also visit our website at www.cedezhomes.co.uk or email us on cedezhomes@hotmail.co.uk for your affordable and durable houses.
posted by cprah at 3:59 pm
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