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Drilling
equipment delaying Ghana's oil quest
Gideon
Sackitey, Accra, Ghanadot
Accra, August 11, 2007, Ghanadot.com - After the massive
euphoria of an oil find and all that was and is associated
with it, Ghanaians currently stuck in a debilitating energy
crisis may have to wait much, much longer than expected to
see the announcement of oil flowing out of the West Cape
Three points in the Western Region.
The delay is due to the current high cost of drilling
equipment arising from huge international demand for
drilling equipment and according to officials of Kosmos
Energy, one of the consortium that made the find the
situation is delaying heavily the transition to full term
oil production.
Mr. George Owusu, the country representative of Kosmos, told
journalists in Accra that depending on the availability of
equipment, usually it should take between three and five
years for oil to flow out of the ground.
But with hugely soaring oil prices, virtually everyone is
drilling oil in their backyard making it difficult for the
Consortium to go ahead to procure the required equipment.
Asked if it the situation was financial, Mr Owusu answered
in the negative and attributed the problem to the actual
dearth of drilling equipment whose cost has risen through
the roof because of the high cost of oil currently pegged at
75 dollars a barrel.
Mr Owusu said it usually takes, “three to five years,
depending upon the availability of equipment. But with the
price of oil up, almost everybody is drilling oil now
because with the price hitting 75 dollars a barrel of oil,
almost everybody…there is a big demand for oil equipment and
that is why I cannot tell you when exactly we would start
drilling oil.
“Its all in the availability of the equipment, money is not
the issue, but the equipment is."
Kosmos officials are drilling more holes with a projection
to drilling extra points by December 2007.
Ghana in June this year stormed out with news of a
significant oil find 40 miles into the sea that many believe
would work to bring significant changes in the national
economy and provide significant funds to undertake
much-needed developmental programmes and projects that would
actually boost the nation’s bid to become a middle income
nation.
The black gold as it is known has been looked up to, to be
the panacea of many a nation. But experts within and outside
the country have warned the authorities not to be overtaken
by its evil traits.
Gideon Sackitey, ACCRA, August 11, 2007, Ghanadot.com
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