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ALL SET FOR OIL TO FLOW…Outdooring Date Fixed

Barring any hitch, crude oil will be pumped from the Jubilee Field as scheduled in December.

A high-level meeting is said to have been held last month, between the Managing Director of Tullow Oil and the Minister of Energy on one hand, and the Presidency, on the other, on the issue.

The meeting tentatively set a date between December 4 and 17, for outdooring of the event, a reliable source at the Ministry of Energy told the Times in Accra.

The source did not disclose how much oil would be pumped that day, but indicated it would be enough to meet the target of the 120,000 barrels a day.

Meanwhile, Dr. Kwabena Duffour, Minister of Finance and Economic Planning, has indicated to the Times that income from the oil production will be factored into the 2011 budget.

He said the Ministry had been in touch with the Ghana National Petroleum Company (GNPC) to know the amount of oil to be pumped within the stipulated period, and the income which would acrue.

Dr. Duffour said such knowledge would then inform the ministry’s decision to include its revenue in the budget.

He did not disclose the prioritised areas in the budget that the oil income will be applied to, but said that as soon as the figures are made available, we will know the areas the income will help to support.
http://www.newtimes.com.gh/story/2561

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Reporting Oil and Gas project was launched on 4th June 2009atTakoradi, Western Region, Ghana by Penplusbytes (PPB – www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector
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