Commercial oil production begins off Ghana

Ghanaian President John Evans Atta Mills pressed the button of the first oil-producing well off the southwest Ghanaian coast on Wednesday, three years after the discovery of the oil field by America-based Kosmos Energy.

The occasion was described by president Mills as "a happy day" for all Ghanaians, who have dreamed for years to produce its own oil for the improvement of their lives.

In an interview with Xinhua on Sunday, Minister for Energy Joseph Obteng Adjei called the day as the beginning of economic emancipation for Ghanaians.

Wearing safety gear and blue overalls, President Mills also opened the valve aboard the production platform for the floating production and storage and off-loading (FPSO) vessel, operated by Mitsui Ocean Development & Engineering Co., Ltd. (MODEC) at a lease of 393,000 dollars a day.

Adjei said that a consortium led by Britain-based Tullow Oil would start with 5,000 to 8,000 barrels per day, increasing to 120, 000 barrels around next April.

However, the consortium, including Tullow, Cosmos, Anadarko, Sabre and the E.O. Group, hoped to produce 55,000 barrels per day, increasing to 120,000 barrels in six months.

Source: Xinhua