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Ghana bags US$400m from oil

  • SOURCE: | qwesa2big
  • Ghana has bagged more than US$400 million from oil this year, with a target to increase production to 60,000 barrels a day in the next two years, the Vice President of Tullow Oil in charge of Africa Business, Mr Tim O’ Hanlon, has stated.

    He said with support from jubilee partners such as the Ghana National Petroleum Corporation, Anadarko and KOSMOS Energy, the country stood a good chance of recording an impressive revenue base emanating from the resource that would benefit the people.

    Sharing the success story of Tullow at the just- ended Africa Upstream Conference in Cape Town, South Africa, Mr O’ Hanlon called on the government of Ghana to continue supporting Tullow as it strived to realize its objective of being a catalyst for regional development.

    Describing the discovery of oil in commercial quantities in Ghana as a dream come true, he indicated that Tullow was focusing on a strong local workforce in  Ghana, as well as in the other part of the world where it operated and  that there was an immediate local involvement  towards developing the industry in Africa.

    About 1,500 delegates including  government functionaries and exhibitors  from across the world, are attending the conference, which was described as Africa’s  biggest oil and gas event.

    The Chief Executive  of Ghana’s Petroleum Commission, Dr Kwabena Donkor, the Executive Chairman of Tullow Ghana Limited, Mr Ike  Duker, and an official of Tullow plc, are among the delegates from Ghana.

    The event  is organised   by Global Pacific & Partners, a leading independent advisory group with unique  business model in worldwide petroleum that has been active for more than 25years in the oil and gas business.

    Mr O’ Hanlon, who touched on Tullow’s exploits in Uganda also, said it was the commitment of the organization to attract investment inflows into their countries of operation and that Tullow was in the process of creating more drills in Ethiopia  and other places in the continent .

    He stated that already the organization had created a total of three exploration wells with two in Gabon and one in Cote d’Ivoire .

    As part of its corporate social responsibility , the Tullow vice president  said his outfit, among other things, ran oil and gas training programmes for journalists and also for government officials to equip them with the requisite  knowledge about the industry.

    Daily Graphic

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