sharing in governance of extractive industries

Ghana makes "brand new"oil discovery - Joy FM

More crude oil has been found offshore Ghana. The discovery was made in the Teak-1 Well in the West Cape Three Points, an area separate from the Jubilee Field where crude production is currently ongoing.

The bloc is jointly owned by Kosmos Energy, Anadarko and Tullow and four others including the Ghana National Petroleum Corporation.

The License and Business Services Manager at Tullow Ghana, Kevin Quinn told Joy Business the companies are yet to carry out further exploratory works on the well.

“This is a new discovery, so this is undiscovered oil, so it is a brand new discovery, and we are very pleased to announce it,” he said.

He said the team drilled a number of potential “reservoirs and we found that all of the reservoirs, in fact five of the reservoirs, all contained hydrocarbons of one type – either gas, oil or gas condenses – so it has been a very positive result.”

Mr Quinn said the next thing to do is to evaluate the resources of the well and submit the results to the government regarding the find.

Available: http://news.myjoyonline.com/business/201102/60896.asp

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Comment by Kobina Aidoo on February 18, 2011 at 13:51
@Emmanuel: Can you give us an update on the parliamentary debate?
Comment by Franklin Obed Siakor on February 11, 2011 at 12:41
I am Liberian. But I love Ghana. I pray that the politicians of Ghana do better with the oil wealth than the military did withoil in Nigeria. Governing Africa well and improving the well being of the poor in Africa is the surest way to show the rest of the world the black man is capable of governing his people well.
Comment by Mohammed Amin Adam on February 11, 2011 at 3:31
This is good news to many Ghanians but this is happening at the time Ghana's parliament is about to debate a Petroleum commission legislation which lacks the independence of the commission as well as transparency in the operations of the commission. Ghana must set an example of a Comission which does not give room to politicization of petroleum commission as the bill seeks to do, giving the president descretionary powers to appoint who he likes to the governing board. The best way out is to make institutional representations to the governing board such as the Environmental Protection Agency, the Ghana Maritime Authority , the Fisheries Commission and civil society.


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