According to the historical records of the Petroleum Commission, Ghana, exploration for oil and gas in Ghana started as far back as 1896 in the onshore Tano basin (Western Region) where early explorers had noticed the presence of onshore oil and gas.
In 1970, a milestone discovery was made by Signal/Amoco Group with Seago 10-1 well. This Well led to the discovery of the Saltpond Oil Field (Devonian Section). The Takoradi 11-1 Well had encouraging gas shows with subsequent re-mapping suggesting strongly that the Eell was drilled off structure and could possibly have been a gas discovery if it had been located on the structure.
However, exploration for commercial hydrocarbons intensified from 2001 with some independent Oil Companies such as Kosmos Energy, Hess Corporation and Tullow Oil, acquiring exploration and production rights over areas in deep waters. There was a shift of focus from shallow water to deep-water areas which was occasioned by other deep-water discoveries made in the region and by the results of four deep-water wells drilled in Ghana between 1999 and 2003. These wells proved the existence of an active petroleum system in the deep-water, a fact which hitherto was unknown.
Then in 2007, Kosmos Energy (block operator), Anadarko (technical operator), Tullow Oil and E. O. Group struck a significant (about 312ft net) column of high grade oil in the Mahogany prospect with the Mahogany-1 well in the West Cape Three Points Licence, a feat that crowned years of concerted effort by all. From August 2007 to 2013, 23 discoveries (Odum, Ebony, Tweneboa, Sankofa, Dzata, Owo, Teak-1, Paradise-1, Banda-1, Gye Nyame, etc.) were made; and all, except Ebony, were made in deep water (water depths ranging from 800m to 1600m). The Mahogany and Hyedua discoveries were appraised and put into production as Jubilee Field.
And on December 15, 2010, Ghana joined the list of countries producing oil on commercial bases. It can be recalled vividly how, His Excellency John Atta Mills, President of Ghana then, was in Sekondi-Takoradi to open the valves to make way for the flow of first oil.
Jubilee Partners: Tullow Oil plc (34.70 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) were all there to commemorate the first oil flow in Ghana and crown years of faithful persistent search.
Challenges in fulfilling dreams
Ten years on, various international oil companies have been attracted into the industry and communities, and other social structures have played key roles in the bid to better Ghana’s prospects with the oil find.
What has been the changes the new oil flow has brought about in Ghana, in the areas of:
Boosting economic expansion with the expected concomitant infrastructural development and increased investors’ attraction
The growth of local participation in the oil and gas industry
Meeting of the UN Development goals
Freeing the economy from perennial dependence on donors’ support?
Indeed, through the ten years of Ghana’s oil find, challenges in meeting and satisfying set expectations and well-intended projections have been experienced realities. But, devoting time to taking stock and identifying these challenges and collectively seeking solutions to resolving the challenges, and appropriating the huge developmental opportunities that oil find brings seem to be what is needed most now as Ghana marks ten years of its oil find. That opportunity to take stock and evaluate gains and chart a better course is what, EOBS 2018, as a strategic economic and business forum, is coming to provide.
Government of Ghana
Ministers, Ghana National Petroleum Company (GNPC)
Upstream sector/Downstream sector players
Prospective Customers (IPPs, Industries, BDCs)
Gas Producers, Managing Directors
Regional Vice Presidents
Country Managers, General Managers
Geology & Geophysics Professionals
Well Intervention Managers
Procurement & Supply Chain Professionals
Bank of Ghana
Mobile telecommunication companies
Local Information Communication Technology (ICT) companies
The General Business Community
Commercial Departments of Embassies and High Commissions
Chambers of Commerce
Non-banking Financial Institutions
CSOs, NGOs, the Media, etc.
The event’s Strategic Partners include the following:
Office of the President of the Republic of Ghana
Ministry of Energy and Petroleum
Ghana National Petroleum Corporation (GNPC)
National Petroleum Commission (NPC)
Ministry of Finance
Ministry of Trade and Industry
Tema Oil Refinery (TOR)
Bulk Oil and Storage (BOST)
Ghana Gas Company
Africa Energy Consortium
Ghana Chamber of Oil & Gas
Public Interest and Accountability Committee (PIAC)