There are 1.8 billion barrels of crude oil (recoverable reserves) in the Jubilee field, making it the single biggest in Africa and second in the world.
Mr Mohammed Amin Adams, a member of Civil Society Organisation Platform for Oil and Gas and coordinator of Publish What You Pay, a non-governmental organisation, said these at a forum on Oil and Gas on the theme: “Community sensitization in forum with stakeholders on Oil and Gas”, at Half Assini in the Western Region.
It was jointly organised by the Christian Council of Ghana (CCG) and the Pentecostal Churches of Ghana (PCG) for religious leaders, chiefs and members of identifiable groups in and around Half Assini.
Mr Adams, who was speaking on the topic: “Oil and gas find, analyses and emerging issues” said “if corrupt people manage the oil and gas industry, it would be a curse for Ghana”.
He said the right economic security for communities that would be directly affected by the oil exploration, must be addressed to ensure sustainable development and prevent oil nationalization, which may give rise to unintended consequence.
Mr Adams said Ghana would earn 52 percent of its national revenue from oil and gas in the Jubilee field by 20 year’s time.
He said the Jubilee field would be profitable to Ghana since the total investment including the cost of the Float Production storage and Offloading was 4 billion US dollars.
According to Mr Adams, by 2020, 90 percent of workers in the Oil industry would be Ghanaians and the oil companies would contribute towards their training.
Reverend Dr Nii Odonkor of the CCG, who was facilitator of the forum, said that the Council and the PCG can no long be silent over exploitation of Ghana’s national resources.
He said the platform had been created for Ghana to improve upon issues affecting the oil industry in other countries.
Dr Shiloh Osae, of the Environmental Protection Agency (EPA), speaking on the topic: “Environmental Impact on Oil and Gas Production”, said that soon Ghana’s energy consumption would be shifted from fuel wood to gas.
He appealed to people living around the Jubilee field to inform the EPA about any strange environmental development along the cost.
Osahene Katakyi Busumakura III, Omanhene of Takoradi Traditional Area, said that suggestions and ideas of the participants should be considered for the oil and gas bill.
Apostle Samuel Yaw Antwi, chairman of Ghana Pentecostal Churches, advised Ghanaians not to sell their land indiscriminately to foreigners coming to the country as a result of the oil find.