March 5, 2010

Making Sense of Ghana's Oil Discoveries: Introduction

As I write this post I'm putting the final touches on a series of posts relating to Ghana's oil discoveries. The first one will introduce the basics of oil exploration as it relates to the discoveries in Ghana's offshore waters in layman's terms. The second one answers the question of "What does this mean for Ghana" in economic terms by comparing it to other industries and looking at expected royalties.

In my final edits on the first part, yesterday, I referred to the maritime boundary dispute between Australia and East Timor that I researched in my past life when I worked for Japan's national oil corporation. I wrote:  "fortunately Ghana doesn't have maritime boundary issues so there is no dispute over ownership of the discoveries." 

Then I came to the cafe a few hours later to discover this article at My Joy Online: Ivory Coast Oil Claim has Serious Implications. So much for that. I plan to check the Ivorian claim as much as possible from where I sit before finally completing the post on the introduction to the industry that I was planning to put up today. I shall post tomorrow or Sunday so watch this space.

Download a free sample of the Insider's Guide to Ghana see inside the guide before buying.


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