Prospects are bright for more oil finds - Geophysicist

Ho, April 18, GNA - Prospects are bright for more commercial oil find in Ghana, Mr Gabriel Osatey, Chief Geophysicist of the Ghana National Petroleum Company has said. Speaking at a Volta regional forum on "Oil and Gas Policy" in Ho on Thursday, he said: "What has been found is an introduction of great things in the future."

He said further studies were being conducted at the Keta basin where there had been previous exploratory activities and that by August this year, test drilling would begin. "The future prospects in that area too is great".

In his address, Volta Regional Minister Mr Kofi Dzamesi said revenue from the emerging oil industry should be used to transform the country's agriculture industry and other key sectors for sustainable growth.

"Elsewhere, the oil industry was allowed to overwhelm and overshadow all other sectors hence stagnating growth," he cautioned. Suggestions made by participants included an impact appraisal and social assessment plans to ensure that revenue from the oil goes into equitable development of all parts of the country. Other issues raised were the need to develop bio-diesel vis-=E0-vis crude oil and the prospects for producing gas locally.