Saturday, May 25, 2024
logo
Update At 14:00    USD/EUR 0,92  ↓-0.0027        USD/JPY 156,94  ↑+0.005        USD/KRW 1.365,32  ↓-0.08        EUR/JPY 170,27  ↑+0.551        Crude Oil 82,16  ↑+0.8        Asia Dow 3.966,56  ↓-19.73        TSE 1.780,00  ↓-2        Japan: Nikkei 225 38.646,11  ↓-457.11        S. Korea: KOSPI 2.687,60  ↓-34.21        China: Shanghai Composite 3.088,87  ↓-27.516        Hong Kong: Hang Seng 18.608,94  ↓-259.77        Singapore: Straits Times 3,39  ↑+0.001        DJIA 22,07  ↑+0.02        Nasdaq Composite 16.920,80  ↑+184.762        S&P 500 5.304,72  ↑+36.88        Russell 2000 2.069,67  ↑+21.259        Stoxx Euro 50 5.035,41  ↓-2.19        Stoxx Europe 600 520,57  ↓-0.99        Germany: DAX 18.693,37  ↑+2.05        UK: FTSE 100 8.317,59  ↓-21.64        Spain: IBEX 35 11.246,00  ↓-65.1        France: CAC 40 8.094,97  ↓-7.36        

2011 marks the first of many Jubilee years for Ghana

Article - August 16, 2011
The discovery of the Jubilee oil field, about 37 miles off the coast of Ghana, has the potential to be a game-changer for the developing country
The Jubilee oil field’s total reserve potential is estimated at 1.5 billion barrels of oil equivalent, enough to provide the country with revenue for years to come, and to finance the investments needed to help dramatically raise living standards for all Ghanaians.

The first shipment of crude oil from the field was made in January of this year, and it fetched more than US$90 per barrel according to Tullow Oil, which operates the field and owns a 34.7% stake in it, along with Ghana National Petroleum Corp., Anadarko Petroleum, Kosmos, and Sabre Oil & Gas.

The field started with an initial capacity of about 50,000 barrels of oil per day from four wells, and full production capacity of 120,000 barrels per day should be reached within about six months after five more wells are completed and brought on line.

The natural gas produced from the field won’t be flared, or burnt off as waste, and will instead be channeled into a gas pipeline network that will be built to distribute the fuel. Construction of an 8.7-mile undersea pipeline to bring gas from the field to a point onshore near the border has already begun.

  0 COMMENTS