Oil to Flow in Ghana in 2010

Ghanaians have been told that oil will start flowing in the fourth quarter of 2010. This announcement was made by Minister of Energy,Dr. Oteng Agyei during a question and answer session at Parliament House in Accra yesterday.

Dr. Agyei assured Parliamentarians that drilling was right on schedule

"We're on course to to achieve the first production the fourth quarter," Dr Agyei said.

Dr. Agyei also moved to quash rumors that Kosmos, a member of the consortium undertaking the oil exploration had threatened to pull out of the project. Dr. Agyei said this in response to a question put forward by Joe Baiden, an NPP member of parliament, who wanted to know what prevented the completion of the Plan of Development for the Jubilee Fields(place of oil discovery) and whether they would affect the planned oil production.

Dr Agyei said he had read and heard about the rumor, but that none of the members of the consortium had expressed intentions to pull out of the project
"Nobody has contacted my office with intention to get out!" Dr Agyei lamented.

Dr. Agyei pointed out to the house that Tullow and Partners, a member of the oil consortium presented a POD upon discovery of the oil find, to the government for review in accordance with terms of the contract for the oil exploration project.