Accra, July 7, 2017//-Ghana is eyeing the exploration and discovery of more oil in commercial quantities onshore, particularly in the resource rich Voltaian Basin which is an asymmetrical inland basin covering about 40% of Ghana’s continental landmass.
It stretches from Ghana through Togo, Benin to Burkina Faso.
President Nana Addo Dankwa Akufo-Addo who disclosed this on Thursday, July 6, 2017, after turning on the valves on the FPSO John Agyekum Kufuor to signal the formal production of oil in commercial quantities from the Sankofa oil and gas fields.
He said: “I believe God will be on our side once again under another NPP administration to strike more oil and gas. President J A Kufuor made it happen off shore. The focus now is also to explore opportunities on shore. That is why my government is committed to intensifying efforts towards the discovery of oil and gas on shore in the Voltaian Basin”.
President Akufo-Addo reiterated the commitment of the Ghana National Petroleum Corporation (GNPC), national oil company, to find oil and gas in the Voltaian Basin, is reassuring, and was delighted about this bold step.
“My government is totally committed to giving Dr K K Sarpong and his team all the support they need to make this happen. I have been briefed that all the necessary preparatory work has been done to commence initial seismic survey. Approval for the award of the contract for the seismic survey will be given soon,” he said.
With the oil industry increasingly becoming an important contributor to the country’s economy, President Akufo-Addo indicated that the efficient management of petroleum resources and its associated revenues is a national priority.
The Keta Delta block is estimated to cover an area of 3,000 square kilometers. Some analysts have put expected barrels of oil from the Keta basin area at about hundred million.
The Keta Basin is part of the larger Voltaian Basin, which includes onshore areas stretching up to the northern parts of the country. According to some analysts, the Keta Delta block is estimated to cover an area of 3,000 square kilometers. In 2016, former president John Mahama announced that an agreement for the start of onshore oil and gas exploration in the Keta Basin of the Volta Region has been finalized.
An exploration and production license was awarded to Swiss African Oil Company, a subsidiary of Swiss African Petroleum AG for the new block. The deal which was a joint venture between Government, Ghana National Petroleum Corporation, Swiss African Oil Company Limited and PET Volta Investments makes it the first onshore oil exploration deal in the country. This came as a blessing for the country following the delay by past government to give the green light for the first onshore oil exploration deal.
African Eye Report
