1st Oil From Jubilee Fields On Wednesday

14 Dec 2010 514 news, business
The Euphoria for the first production of the oil from the Jubilee Field is high as Ghanaians wait patiently to celebrate the blessings on Wednesday December 15 2010, with fun fair, pomp and pageantry. Radio Ghana caught up with the Deputy Minister of Energy in Charge of Petroleum, Emmanuel Kofi Buah who commended the technical team and other stakeholders for doing a good job within a scheduled time frame. Mr. Buah also commended the government for introducing the Revenue Management Law to prudently and transparently manage the oil revenue for the benefit of all Ghanaians. He said this level of transparency is unmatched and has attracted international commendation. On security at the Jubilee oil field, Mr. Buah said enough security arrangement has been done to ensure that the oil find is a blessing. Meanwhile, Ghanaians have been speaking about how they feel as they expect the first commercial quantity of oil to be pumped out of the Jubilee Oil Fields. While some say it is another blessing God has bestowed on the nation, others are very much concerned with the issue of collateralisation of the oil and asked government to tread cautiously. First, Dan Markin, Chairman of the Railway Governing Board expresses his joy. A banker, Alhaji Baba also believes it is good news to produce oil but cautioned Ghanaians not to expect too much. A member of the Board of Ghana Energy Commission, Kofi Wayo, was not happy that government has not been able to put up a refinery at Takoradi to process the oil for maximum benefit. The Executive Director of Ghana Integrity Initiative, the Local Wing of Transparency International, Vitus Azeem, says he is pleased that Parliament is going through the legal framework to come out with a relevant law to regulate the drilling of oil.

Source: BBC