Ghana’s Energy Minister Emmanuel Armah Kofi Buah has lauded the oil find in Ivory Coast.
France’s Total this week announced it has struck oil on a block off Ivory Coast adjacent to Ghana’s giant Jubilee Field.
Joy News sources have confirmed that the oil discovery announced by Total is indeed located within Ivorian waters.
The find follows reports of a near diplomatic row between Ghana and Ivory Coast over a similar find in Ghana’s waters several months ago.
Total’s find was at the western part of C100 which extends to the Tano basin, and is home to several fields including Ghana’s Jubilee oil field.
The field holds around 2 billion barrels of oil reserves and another 1.2 trillion cubic feet of natural gas.
Experts warned earlier today the discovery is likely to further aggravate the boundary dispute between Ghana and its neighbor, the Ivory Coast.
But the sector Minister thinks otherwise.
Emmanuel Buah told Joy News’ Evans Mensah the new find in Ivory Coast should ease tensions between the two countries.
He said not much is known about the discovery but “It simply means there is discovery in Ivory Coast and it good news for them.”
He said there is no Total in Ghana and so if Total has discovered oil it should be in Ivorian waters.
“In our view it is good news for Ivory and it allow them to increase their resources and be content with what they have,” he added.
He said Ivory Coast will now have to concentrate on developing its own find and so too will Ghana.