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As Ghana begins oil production, Ghanaians worry about 'oil curse'

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CTM Communications/Tullow Oil/Reuters

(Read caption) Ghana's President John Atta Mills turns on the valve to allow the first barrel of crude to flow from the Jubilee offshore oil field on Dec. 15. Ghanaians welcomed their country's first oil on Wednesday, optimistic they can enjoy the economic benefits without the troubles that oil wealth has brought other African countries.

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Yesterday, Dec. 15, 2010 marked a great day in the lives of many Ghanaians because Ghana joined the list of countries producing oil on a commercial basis. The question on most people’s minds is: How does this benefit us (Ghanaians)?

His Excellency John Atta Mills, President of Ghana, was in Sekondi-Takoradi, where he was flown offshore to the FPSO Kwame Nkrumah to open the valves to make way for the flow of first oil. Jubilee Partners, which include Tullow Oil plc (34.7 percent), Anadarko Petroleum Corp (23.49 percent), Kosmos Energy (23.49 percent), Ghana National Petroleum Corporation (GNPC) (13.75 percent), Sabre Oil and Gas (2.81 percent) and E.O. Group (1.75 percent) participated in a formal celebration to commemorate the first oil, hosted by the president at the Takoradi Air force base.

The first phase of production at the Jubilee oilfield has begun, ramping up to 55,000 barrels of oil per day (BOPD) this month and 120,000 BOPD during the first half of 2011 as additional wells are completed. This marks the beginning of Ghana’s first significant commercial oil production and will allow the country to join the ranks of sizable West African oil exporters.

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