Oil discovery in Ghana – Is it Tullow or Kosmos?

News broke this morning, January 8, 2009 that a third discovery of oil has been made in Ghana. But in separate statements released by two companies in the oil industry, UK registered Tullow Oil and US based Kosmos Energy have claimed the discovery.

News organisations across the globe have carried the stories and to the uninformed on best practices in the oil industry, this looks confusing.

But in a telephone conversation with ghanabusinessnews.com Thursday evening, January 8, 2009, Greg W. Dunlevy, Executive Vice President and Chief Financial Officer who is also a Founding Partner of Kosmos Energy cleared the air. He told ghanabusinessnews.com that Kosmos and Tullow are partners.

But when asked why neither of the two mentioned the other in their statements announcing the find, he told ghanabusinessnews.com that all the companies are public companies and they have to make the announcements in the interest of their shareholders.

He added also that, it is standard practice in the oil industry for partners involved in oil exploration to make independent announcements of finds without mentioning their partners.

Mr. Dunlevy said this third oil discovery in Ghana means that Kosmos will continue to remain in the oil and gas exploration business in the country.

By Emmanuel K. Dogbevi

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  1. Priscilla says

    I want to know more about the oil discovery. Is it going to better the lives of we Ghanaians? why do we have to engage two companies in extracting the oil.

  2. Nicholas Dey(university of ghana) says

    Oil in Ghana?.A big blow to Ghanaians.we are already seing the signs of who chops the money and who watches in opposition.Let us pray to God other wise………………

  3. benjamin tetteh says

    I think that the oil discovery in ghana is a blessing but the question we need to ask ourselves now is why should we sit down for someone to come and discover something? i think therefore that discovery culture in ghana is dead and which seriusly needs to be resurrected.

  4. Akua says

    was there ever a discovery culture in ghanaians? all we do is wait for some foreigner to come and tell us that we have something valuable and sometimes cheat us… WE SERIOUSLY NEED A DISCOVERY CULTURE!

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