Audio By Carbonatix
Policy think tank Imani Ghana has advised the Jubilee partners to be cautious over a planned 20 billion dollar investment in the fields.
Ghana and its partners on the Jubilee oil fields, namely Tullow Oil and Anadarko Petroleum will invest the amount over the next 10 years. The investment will be aimed at developing new oil discoveries.
The new discoveries include Tweneboa and Enyenra in the Deep Water Tano Block as well as other clusters such as the Mahogany, Teak, Akasa and Banda.
But Imani Ghana has said this should be done cautiously considering that fact that current output from the field falls short of projected targets.
The Executive Director of IMANI Franklin Cudjoe explained to Joy News that “the optimistic projection of hitting close 250,000 per day may not likely come off.”
According to him, “giving exactly how the field entirely is behaving now, we have also noted that the finding cost which means that the amount of money that is being spent on the production of a barrel in the Jubilee filed is about five times what is being spent in other similar projects especially in the golf as well as the Alaskan coast.”
Franklin Cudjoe warned that “the field may not be as competitive as we thought and may not necessarily be gathering the needed investments that are being touted right now.”
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
“Ghana has moved from ICU to wellness center” — Finance Minister declares economic recovery
10 minutes -
Ato Forson highlights “turning point” in economic recovery strategy
13 minutes -
NACSA Seminar: Gender Minister demands an increased role for women to end gun violence
19 minutes -
Full text: Statement on Ghana’s new engagement with IMF
25 minutes -
US trade mission to visit Ghana
1 hour -
Tempane: Three suspects arrested over deadly Worinyanga attacksÂ
1 hour -
EU fines Temu €200m for allowing sale of illegal products
1 hour -
Portugal breaks hottest May day record as Europe swelters in heatwave
1 hour -
KetaFC celebrates “vindication” after Volta RFA Middle League controversy
1 hour -
Professor Joseph Ofori-Dankwa receives 2026 Lifetime Leadership Impact Award
1 hour -
United Pension Trustees advocates menstrual hygiene awareness and support for girls in Juaben
1 hour -
The age when the body starts ageing faster
1 hour -
Controversial Volta RFA verdict triggers calls for GFA intervention
1 hour -
AIMS Ghana, University of Waterloo lead push for stronger mathematics education at HTTMC 2026
1 hour -
NADMO dismisses claims residents were not warned before Weija Dam spillage
3 hours