Oil potential in Ghana

Mr M.O. Boateng, the Managing Director of the Ghana National Petroleum Corporation has said that there is huge potential for oil in Ghana.

The recent discovery of 600 million barrels of light oil offshore from Ghana is just the tip of the iceberg according to Mr Boateng.

According to Tullow, one of Europe’s largest independent Exploration and Production companies, ultimate reserves are likely to be in excess of previous estimates, with some high potential zones still to be drilled.

John Kufuor, the President of Ghana said that the discovery would be major boost for Ghana’s economy.