Ghana discovers another oil field Ghana has made another oil discovery at the Cape Three Point in the Western Region. Russia’s second-largest oil producer, OAO Lukoil (LKOD), made the findings which could be Ghana’s fifth offshore field. It will take about three months (90 days) to evaluate the find before a final decision could be made. The young oil-producing country and West Africa’s second-largest economy produces about 100,000 barrels of oil daily. Ghana is hoping to increase production to about 500,000 barrels a day in the next decade in partnership with Tullow Oil Plc and Anadarko Petroleum Corporation. Ghana has earned about $1.8 billion from its oil revenue since 2011, according to the Africa Center for Energy Policy (ACEP).
Posted on: Wed, 03 Sep 2014 09:28:12 +0000
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