The Oil & Gas Year Ghana 2012
The first African country to achieve independence in 1957, Ghana has been lauded by many for its peaceful nature and political stability that separates it from some of its peers in the region. Following three peaceful and democratic elections, the country is not only an example of democratic power in Africa but also one of the world’s fastest-growing economies.
After more than a century of unsuccessful oil exploration, Ghana was catapulted into the world of oil exporting economies with the 2007 discovery of the Jubilee field. This discovery sparked the interest of many independent exploration and production companies. Jubilee started producing oil in 2010, a mere 40 months after discovery, and it is the only major deepwater field in the country. Jubilee will not have this status for long, as there have been several promising oil and gas discoveries off the Ghanaian coast recently. The outlook for the nation’s production rates and potential reserves is promising.
Having also discovered substantial reserves of natural gas, Ghana is implementing an aggressive plan on gas utilisation with financing from China. Ghana sees natural gas as its key resource for achieving stable power supply and cheap energy for growing domestic industry.
As a country that has just discovered oil, Ghana still needs to make sure the necessary regulations are in place for the whole nation to benefit from the natural resource. The Oil & Gas Year, Ghana 2012 focuses on the efforts of this African democracy to create the institutions and maintain transparency and takes a detailed look at the Jubilee field development and the infrastructure requirements needed for bringing additional discoveries closer to production.
Drawing on four months of research in the field, The Oil & Gas Year, Ghana 2012 serves as the ultimate guide to Ghana’s energy industry by offering key statistics and maps, as well as interviews with the key stakeholders in Ghana, the exciting newcomer to the club of oil producers.