The High Street Journal

Prospects for sizeable oil find in Ghana brightens

 

In a front page story, the High Street Journal reports that the efforts of the Ghana national Petroleum Corporation (GNPC) at unearthing the nation?s hydrocarbon potentials, appear to be deepening with buoyancy, going by perceptions of foreign private oil companies collaborating with the GNPC.

The foreign private oil companies are said to be sounding optimistic with their exploration discoveries. The paper says Sante Fe Energy Resource, a world giant among the five foreign oil companies which have entered into prospecting deals with the GNPC, has indicated that its 2,500,000-acre concession located at Keta in the Volta Region, runs deep with oil reserves. Sante Fe, the High Street Journal says, is currently shooting 3-dimension seismic survey on the Keta bloc.

The company is reported as saying the Keta bloc is particularly exciting with several significant prospects identified in shallow water. According to Sante Fe, the bloc is high risk but the prospects offshore are ?juicy?.