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Discovery of oil in Ghana

There’s Oil on that there Continent!

Foreign firms are increasingly looking to Africa for oil.

One of the biggest finds in oil in Africa was recently made in Ghana.  The BBC reported that UK firm Tullow Oil has announced the discovery of 600 million barrels of light oil offshore from Ghana, far greater than the 250 million barrels earlier forecast.

 Oil discovery in Ghana to create big market for salt
The Regional Minister  of the Volta Region is urging salt producing areas to brace up for the expected boom in the industry in the wake of the discovery of crude oil in commercial quantities in Ghana.

Mr Dzamesi , the Regional Minister,  was speaking to the chiefs and people of Adina during their fish-smoking festival.  Adina is a fishing community in the Ketu District and it is noted that huge volumes of salt would be needed for processing crude oil, when drilling begins.

Apart from being a major fishing post, Adina produces a lot of salt from its lagoon waters. Other coastal communities could have jetties constructed at their beaches to facilitate the lifting of salt for use in the industrial zones of the country.

The discovery of oil in Ghana should be good news for all salt mining areas.

Will the process of governance, with its checks and balances, should make it impossible for the dissipation of revenue from oil?

Source:  BBC News, The New Ghanian

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