effects of oil and gas industry on acquatic life in western region og ghana
MANAGEMENT DEVELOPMENT AND PRODUCTIVITY INSTITUTE
(GHANA-ACCRA)/GIG
MY GOODWILL GROUP
PROJECT II
THE IMPACT OF OIL AND GAS INDUSTRY ON ACQUATIC
LIFE IN GHANA
ENVIRONMENTAL MANAGEMENT – TAKORADI ZONE
GROUP 3
TC-NYEP-2025
ACKOM JUSTICE
BAAH
242909533
ENVIRONMENTALIST
TC-NYEP-2986
SMITH
KWARTENG
242964972
ENVIRONMENTALIST
TC-NYEP-1007
PETRINA NAAPOG
GBIREH
243824014
ENVIRONMENTALIST
TC-NYEP-3010
AUGUSTINE
OSEI-GYAPONG
246561764
ENVIRONMENTALIST
TC-NYEP-3023
IGNATIUS APPIAH
ACHEAMPONG
268028848
ENVIRONMENTALIST
CHAPTER ONE
1.0 Introduction
Ghana‟s Discovery of Oil in June 2007 is not the first time oil exploration has taken place in the country. Oil exploration dates back to almost a century when oil was discovered in the saltpond fields. However, Ghanaians have been more expectant and looks forward to Ghana becoming an oil producing country since the discovery of oil in commercial quantities at the jubilee fields.
The oil find is seen as a blessing by most Ghanaians‟ because the certainty of revenues that will be generated from this sector is high and also a boost in the country‟s economy. In a World Bank report dated November 2009, it is certain that the six of government revenue derived from the oil and gas sector will dwarf the revenues currently generated by the mining sector. The World Bank bases its projection of potential government revenue on estimated oil reserves of 490 million barrels in the jubilee field. Assuming a price of US$ 75 per barrel, the World Bank estimate puts potential government revenue from oil at an annual average of US$ 1 billion between 2011 and
2029. In addition to this, the associated production of gas is estimated to generate revenues around one tenth oil revenue amounting to approximately US$ 120,000 annually (ref).
According to figures from GNPC, Ghana‟s projected take from the Jubilee field will be in the range of 38-51% of
(GHANA-ACCRA)/GIG
MY GOODWILL GROUP
PROJECT II
THE IMPACT OF OIL AND GAS INDUSTRY ON ACQUATIC
LIFE IN GHANA
ENVIRONMENTAL MANAGEMENT – TAKORADI ZONE
GROUP 3
TC-NYEP-2025
ACKOM JUSTICE
BAAH
242909533
ENVIRONMENTALIST
TC-NYEP-2986
SMITH
KWARTENG
242964972
ENVIRONMENTALIST
TC-NYEP-1007
PETRINA NAAPOG
GBIREH
243824014
ENVIRONMENTALIST
TC-NYEP-3010
AUGUSTINE
OSEI-GYAPONG
246561764
ENVIRONMENTALIST
TC-NYEP-3023
IGNATIUS APPIAH
ACHEAMPONG
268028848
ENVIRONMENTALIST
CHAPTER ONE
1.0 Introduction
Ghana‟s Discovery of Oil in June 2007 is not the first time oil exploration has taken place in the country. Oil exploration dates back to almost a century when oil was discovered in the saltpond fields. However, Ghanaians have been more expectant and looks forward to Ghana becoming an oil producing country since the discovery of oil in commercial quantities at the jubilee fields.
The oil find is seen as a blessing by most Ghanaians‟ because the certainty of revenues that will be generated from this sector is high and also a boost in the country‟s economy. In a World Bank report dated November 2009, it is certain that the six of government revenue derived from the oil and gas sector will dwarf the revenues currently generated by the mining sector. The World Bank bases its projection of potential government revenue on estimated oil reserves of 490 million barrels in the jubilee field. Assuming a price of US$ 75 per barrel, the World Bank estimate puts potential government revenue from oil at an annual average of US$ 1 billion between 2011 and
2029. In addition to this, the associated production of gas is estimated to generate revenues around one tenth oil revenue amounting to approximately US$ 120,000 annually (ref).
According to figures from GNPC, Ghana‟s projected take from the Jubilee field will be in the range of 38-51% of