Friday, June 22, 2007

New Offshore Oil Discovery in Ghana

This story is about a week old, but it has important implications for Ghana's future and for its economic standing relative to that of other African nations. As reported on Schlumberger's Realtime News, the data at this point are from one exploration well called "Mahogany-1" drilled in in water depths of 1320m. At slightly over 3500 m, light hydrocarbons were recovered from deposits identified as a "turbidite" from the Santonian stage of the Cretaceous period. Turbidites are products of turbid flow across the floor of the ocean, often triggered by tectonic uplift that causes slumping of continental shelves.

Both the BBC and Schlumberger credit Tullow Oil of Great Britain with the discovery, while an article in the Oil and Gas Journal attributes the same Mahogany-1 well exploration to "Anadarko Petroleum Company and its partners." Kosmos Energy LLC has a detailed proposal on their webpage for exploration throughout West Africa, written back in April, which includes the Mahogany-1 well site. An article in Oil and Gas Online also credits Kosmos with the discovery.


In the BBC article, Ghana's President John Kufuor is quoted describing the discovery as a major boost to Ghana's economy.

"Oil is money, and we need money to do the schools, the roads, the hospitals. If you find oil, you manage it well, can you complain about that? Even without oil, we are doing so well, already. Now, with oil as a shot in the arm, we're going to fly," Kufuor said.

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7 Comments:

At 3:43 PM , Blogger Shinade said...

Hi don, this is your old friend MoonDanzer who is trying very hard to move on with this new alter ego and a happier site. My protest blog was killing me. Now let's just hope and pray that this really will be a blessing for Ghana. because if we pay any attention to history at all then it would sadly implicate yet another war will be on it's way. Drop by sometime and visit the the new fun me http://shinade.blogspot.com I may never get a Thinking Blogger's Award for this one....but, it isn't slowly killing me either. Oh I stopped by...also because I am finally getting my blog roll done today-and I most certainly would not miss you! Bye for now-Jackie

 
At 10:56 AM , Blogger GeologyJoe said...

Does this mean that Al-Qaeda is also in Ghana now? ;)

 
At 9:28 AM , Blogger Don Thieme said...

I sense two very different views of contemporary Africa in the above comments, and I think that the truth is probably somewhere between them.

Shinade (formerly Moondanzer) - You seem to view an abundance of natural resources as a curse in that it attracts the greedy hands of the developed world who then prey upon Africa's poor.

GeologyJoe - You seem to view Africa's radicals and her Islamists in particular as an intrusive pest spreading from enemies of America. Whereas we now speak of Al-Qaeda, formerly it was communism.

Africa and Africans are more sophisticated than either of you are giving them credit. African geologists are involved in the resource extraction industries, and African ideas stimulate the political movements there and overseas. More wars may spring up in west Africa, but Africans can make a choice to prevent them.

 
At 12:34 PM , Blogger Shinade said...

Oh Don, I do so hope that you will prove to be correct. however, even you mention that they have the resources to protect themselves. I realize Africans are quite sophisticated. Actually I had a very close friend from Kenya. However, I am a strong believer in the old saying that history repeats itself. And, I am still fearful that this will be both a blessing and a curse. But , it is something sorely needed in that part of the world. They are a continent which is in fact starving to death or dieing off due to aids. I actually never even thought of Islamic extremetist. I think if war springs up it will be from the (so-called) Civilized western society. Especially if we don't get some changes made in this govt. and, then there is China's ever increasing need for fuel. There are many political considerations and factors to be considered here. Even within the continent of Africa itself...where so many are truly living in standards unworthy to even be called 3rd world and other regions are doing quite well. I am however, going to retain positive thoughts though until proven wrong.

 
At 12:58 PM , Blogger Don Thieme said...

I realize that I set you up as a strawman. So I am proud to see that you have bounced back up to state what you were actually thinking.

By the way, you are always welcome to "vent" on my blog about whatever subject you choose. Your opinions always get me thinking, which is why you are a thinking blogger! !

 
At 9:08 AM , Blogger GeologyJoe said...

Sorry Don I guess my sarcasm didn't come across as well as I had hoped.

 
At 10:18 AM , Blogger Don Thieme said...

So I guess that I made you a strawman as well. I know that there are many in the American foreign policy thinktanks as well as in our State Department who worry that the Islamist shariah movement in west Africa could become a military threat to American interests in the region. We already over-reacted to the "Islamic Courts" movement in Somalia, suggesting that it had been infiltrated by Al Qaeda.

 

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