Ghana has 1.2 trillion cube feet of gas in Jubilee field Half Assini (W/R) Aug. 21, GNA - Ghana has 1.2 trillion cube feet of gas in the Jubilee field, which could meet the requirement of 15,000 barrels of crude oil needed to operate the Aboadze Thermal Plant. There are 1.8 billion barrels of crude oil (recoverable reserves) in the Jubilee field, making it single biggest in African and second in the world. Mr Mohammed Amin Adams, a member of Civil Society Organisation Platform for Oil and Gas and coordinator of Publish What You Pay, a non-governmental organisation, said these at a forum on Oil and Gas on the theme: "community sensitization in forum with stakeholders on Oil and Gas", at Half Assini in the Western Region. It was jointly organised by the Christian Council of Ghana (CCG) and the Pentecostal Churches of Ghana (PCG) for religious leaders, chiefs and members of identifiable groups in and around Half Assini. Mr Adams, who was speaking on the topic: "oil and Gas find, analyses and emerging issues" said "if corrupt people manage the oil and Gas industry, it would be a curse for Ghana". He said the right economic security for communities that would be directly affected by the oil exploration, must be addressed to ensure sustainable development and prevent oil nationalization, which may give rise to unintended consequence. Mr Adams said Ghana would earn 52 percent of its national revenue from oil and gas in the Jubilee field by 20 year's time. He said the Jubilee field would be profitable to Ghana since the total investment including the cost of the Float Production storage and Offloading was 4 billion US dollars. According to Mr Adams, by 2020, 90 percent of workers in the Oil industry would be Ghanaians and the oil companies would contribute towards their training. Reverend Dr Nii Odonkor of the CCG, who was facilitator of the forum, said that the Council and the PCG can no long be silent over exploitation of Ghana's national resources. He said the platform had been created for Ghana to improve upon issues affecting the oil industry in other countries. Dr Shiloh Osae, of the Environmental Protection Agency (EPA), speaking on the topic: "Environmental Impact on Oil and Gas Production", said that soon Ghana's energy consumption would be shifted from fuel wood to gas. He appealed to people living around the Jubilee field to inform the EPA about any strange environmental development along the cost. Osahene Katakyi Busumakura III, Omanhene of Takoradi Traditional Area, said that suggestions and ideas of the participants should be considered for the oil and gas bill. Apostle Samuel Yaw Antwi, chairman of Ghana Pentecostal Churches, advised Ghanaians not to sell their land indiscriminately to foreigners coming to the country as a result of the oil find. Related Articles: * Why ExxonMobil Left Ghana * Anadarko Announces Discovery Offshore Ghana * Major new oil field Discovered in Ghana * Mills' Advisors Divided Over Kosmos/ExxonMobil Deal * Read all related articles Comments: This article has 68 comments, give your commentGeneral News of Monday, 26 July 2010 Source: -- Major new oil field Discovered in GhanaMajor new oil field Discovered in Ghana

Tullow Oil said it has found a significant column of excellent quality light oil when drilling the Owo-1 exploration well in the Deepwater Tano licence offshore Ghana.

Results of drilling, wireline logs and samples of reservoir fluids have established Owo as a major new oil field requiring further appraisal, it added.

The deviated well, located approximately 6km to the west of the Tweneboa wells, has encountered a gross vertical reservoir interval of 154 metres containing 53 metres of net oil pay in two zones of high quality stacked reservoir sandstones.

Pressure data indicates that these zones are part of the same accumulation and samples show that it is a light oil of between 33 and 36 degrees API.

Exploration director Angus McCoss said: "Owo-1 has made a very substantial light oil discovery and continues the success of Tullow's Equatorial Atlantic exploration campaign in West Africa.”

“Given this success, we are immediately drilling an appraisal sidetrack to further assess the size of this find. Accelerated appraisal drilling will now focus on maturing the resources in both Owo and the adjacent Tweneboa accumulation towards commercialization."