"Oil find is possible" says GNPC official

The exploration manager of the Ghana National Petroleum Corporation has said that it is possible Ghana has oil. In an interview with the Business & Financial Times, he said between 1978 and 1985 Ghana actually produced oil from the Saltpond offshore field under the operation of Agri-Petco. The original oil discovery, he said, was made in 1970 by a consortium of Signal & Ammorco Petroleum Company, both of USA.

Mr Asafu-Adjei said that after the discovery the consortium farmed out the project to Hydrocarbons which in turn released it to Agri-Petco.

Flanked by Nii Adzei-Akpor, senior geologist and thomas Manu, geophysicist, both of the GNPC, he said when the field was developed in 1978, it was producing 4,800 barrels a day but production declined to 700-800 barrels a day around 1984/85.