President John Evans Atta Mills on Wednesday symbolically steered the wheel on the control device of the Floating Production Storage and Off-loading vessel (FPSO) Kwame Nkrumah to initiate the flow of Ghana’s Jubilee Oil.
The Jubilee Oil production is pegged at 120,000 barrels per day.
The Jubilee partners include Tullow, Cosmos, Anadarko, Sabre and the E.O. Group.
President Mills in a special navy blue overall costume with the inscription ‘Tullow’ at the back and wearing a helmet with protective spectacles, led a team of high ranking members of government and officials of Tullow Partners onboard the FPSO Kwame Nkrumah.
The symbolic initiation was used to name Ghana’s oil and gas as “Jubilee,” to mark the beginning of the first barrel of light-sweet crude from the Jubilee Oil Field, 60 nautical miles off-shore the West Cape-Three Points in the West Region of Ghana.
The naming ceremony would also pave the way for Ghana’s oil to be recognised on the international oil market and make it easy for the marketing of the oil on the world market.
Ghana’s oil and gas field was found by the American explorers Kosmos Energy in 2007 under the Gulf of Guinea, bordering La Cote d’Ivoire.