This map was published in 2002 by Vanco after signing the Cape Three Points Deep Petroleum Agreement with Ghana. They consider the geology of the deep water areas off the Ghanaian coast well situated for potential oil reserves. The first well was projected for 2007. And as we have just heard in recent days, there is a major oil discovery off the western coast of Ghana. From the looks of this map, there might be more discoveries on the way. Ghana will need strength and foresight to deal with this, so that the oil may have a chance to help rather than harm the people of Ghana. I am praying Ghana may escape the oil curse.
Added from an earlier post –
Here is the core of the debate over African oil development:
- Can oil revenues be made to work for Africans or will they profit only the corrupt few?
- Are oil revenues destined to fuel civil wars and pay for the abuse of human rights or can they build peace and prosperity?
- Is oil development in Africa’s interest or in the interest of the United States? (or, I would add, can the two interests be balanced?)
- Can African oil and gas reserves be exploited without harming the environment, or is the expansion of the world’s oil-based economy ultimately inimical to our collective future on this planet?