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23.12.2010 Business & Finance

Ghana to prospect oil in Volta Basin in commercial quantity

By Joy News/Ghana
Sam Okudzeto Ablakwa, Deputy Information MinisterSam Okudzeto Ablakwa, Deputy Information Minister
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Ghana will prospect for oil in the Volta Basin next year. That's according to Deputy Information Minister, Samuel Okudzeto Ablakwa.

He says there's a lot more oil in the country than found in the Jubilee Field and efforts will be made to discover it.

Mr. Okudzeto-Ablakwa was speaking at a dinner for supporters of the governing National Democratic Congress (NDC) and the media at Keta, in the Volta Region.

Joy News Correspondent, Benjamin Tetteh caught up with him after his address.

He said, “the preliminary seismic data that government has sighted indicates that there is huge potential in the Volta Region for a substantial oil discovery so far as our quest for the oil and gas resource is concerned.”

The Deputy Minister said the government had advised the Ghana National Petroleum Corporation (GNPC) to focus primarily on areas where there is the potential for oil to be discovered in commercial quantities.

He said apart from the Jubilee Field, there are four other basins which hold the potential for significant oil deposits.

“The government will continue to dedicate its efforts at ensuring that those discoveries are made,” he stated.

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