Ghanaians were on Tuesday torn between excitement and apprehension over a major oil find in the West African nation, with some viewing it as a boon and others fearing it could turn out to be a curse.
British oil and gas company Tullow Oil on Monday announced the discovery of up to 600-million barrels of oil on the West Cape Three Points block off Ghana’s coast.
”The discovery of oil in the Mahogany well represents a major event for the Republic of Ghana and for Tullow,” chief executive Aidan Heavey said. ”Based on evidence to date, ultimate reserves are likely to be materially in excess of previous estimates, with some high-potential zones still to be drilled.”
Ghana’s President, John Kufuor, was ecstatic after the announcement, saying the discovery would fast-track the country’s economic march. ”Even without oil, we are doing so well, already,” he said. ”Now, with oil as a shot in the arm, we’re going to fly.”
”We’re going to really zoom, accelerate, and if everything works, which I pray will happen positively, you come back in five years, and you’ll see that Ghana truly is the African tiger,” he told the BBC.
Some Ghanaians hope the discovery will end the country’s perennial energy problems as crude oil could be used to supply a thermal energy plant.
”Now, with proper management, we can be as rich as the United Arab Emirates and we will not have an energy crisis again,” said a secretary who identified herself only as Edith.
Ghana is currently in the throes of a severe electricity shortage, which has compelled the government to ration energy.
Some citizens voiced environmental concerns. ”We need the oil, but we need to make sure that it does not destroy the environment and people’s livelihood,” said Musah Tawfiq, a university student.
Others were cautious, saying that oil could lead to the neglect of other key sectors or fuel corruption and unrest like in other parts of oil- and mineral-rich Africa.
”Oil can be a blessing and a curse. In most African countries, it is more of a curse than a blessing,” said Nii Noi, a bank manager.
Major African oil producers include Nigeria, the world’s sixth-largest exporter, Angola, Gabon and Equatorial Guinea. Despite the oil riches, an overwhelmingly majority of their people live in dire poverty and earn less than $1 a day. Critics say the oil riches are enjoyed only by those in power and their associates.
Mark Otchere, a bar owner, said he was ”excited” but also very worried. ”They should not try to deceive us into thinking that the oil discovery will solve all our problems,” he cautioned. ”There are wars and there is a lot of chaos and corruption in most oil-rich African countries. Just look at Nigeria.”
The Ghanaian media struck an upbeat note on Tuesday, with one prominent daily predicting that oil would overtake gold and cocoa as the main revenue earner.
”Imagine oil fields on our coast, with dozens of towering flares breathing huge swirls of fire … [and] 24-hour oil operations sucking coffee-coloured crude to pump up the black gold to overtake gold and cocoa and become the main driver of this country’s economic engine,” the Statesman newspaper gushed.
The Accra Daily Mail mirrored the sentiment, headlining the news with the title: ”Thank God. Oil at last. Thank God!” — Sapa-AFP