1.5bn barrel oil find hailed as windfall for Ghana

Ghana may be set for a windfall and a boost for vital social projects after a philanthropist’s company discovered a vast oil field apparently worth billions of dollars.

Kevin Okyere said that Springfield Energy had found proven reserves of 1.5 billion barrels, double its own predictions, as well as gas in a field in the Tano Basin off Ghana’s coast.

The company estimates that there are a further three billion barrels yet to be surveyed. The find makes Springfield the first independent Ghanaian company to find proven reserves. A more experienced US explorer had drawn a blank.

“We are so excited. This means increased opportunities to impact the lives of our people,” Mr Okyere, 39, told The Times.



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