Ghana joins oil exporting countries club

20 December 2010

Last Wednesday, Ghanaian president John Atta-Mills traveled to Ghana's very first offshore oilfield to symbolically open the valves.

This event was called "historic" by local and regional leaders, reports Agence France Presse.

The oilfield is located several kilometers from the town of Takoradi. Discovered in 2007 by the company Kosmo Energy, it is one of the biggest oil finds in the world.

It contains 1.8 billion barrels and its development cost amounts to 3.3 billion US dollars, states a press release from Kosmos Energy.

This oilfield will enable Ghana to be one of the first oil exporters in West Africa.

Brian F. Maxted, operations manager at Kosmos, said in the press release that he was delighted "to have brought into the world this national resource in a very short time, so bringing significant economic wealth to the people of Ghana and local economies".
 

Category: Energy