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Date: Sun, 21 Aug 2011 04:05:25 +0400
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The head of Evaluation and Monitoring at Ghana National Petroleum Corporation (GNPC) says the price of Ghana’s new oil should not be markedly different from that on the international market. 
Mr.Warren Greg an investor from Chicago,IL.USA. Told that although he could not state the price at which Ghana’s crude oil would be sold, the expectation of GNPC was that the first consignment of Ghana’s oil price will be as close as possible to the crude oil price on the international world market.Speaking on the Super Morning Show, Mr. Warren explained that when a relatively new oil gets on to the market, it takes some time for it to get its technical value, adding that that notwithstanding, the GNPC does not expect the price of the first consignment to be as low as the figures published in the media.
Reports have been rife about Ghana’s first oil consignment being sold at $60 per barrel much lower than the close to $90 being sold at the international world market. 
He said that the GNPC will not accept the argument proposed by that the low pricing scheme was intended to attract buyers from international world to Ghana’s relatively new oil, especially because Ghana had embarked on pre-marketing of its crude oil and so does not expect such a huge discount.He said that there was a process of reconciliation by which the partners used to arrive at an agreed market price; one which has been indicated in the Ghana Petroleum Agreement.According to Mr. Warren Greg, there are other transactions which were not commercial in nature called “arm’s length transactions”, that allows an entity to sell its crude to an affiliate or conduct a batter trade with an affiliate, and if Ghana used that alternative it should be able to get pricing as close as possible to the technical value.
Mr.Warren said that based on the work which the GNPC did in the pre-marketing, it was expected that Jubilee Oil would attain a premium over Brent although they recognized that it would
take time to achieve that.He said that GNPC have worked with competent entities that have the financial muscle and the networks in the market, expected to reach world-class refineries to process the Jubilee Field crude which will increase its value. that erupted this month casts doubt on future international oil claims near the contested area and raises questions about the reaction of foreign investors to the analysts estimate it has one billion to trillions barrels in proven oil reserves,Ghana over the rightful ownership of offshore resources, potential "unclear title right at the margin" will most certainly be a argued director of the Africa Project at the New York-based National Committee on American Foreign Policy and an associate professor at University in Harrison-burg.I will recall that Ghana has discovered at least 600 million barrels of oil offshore, with the help of Chinese exploration teams, and has an additional prospect for 1.2 billion barrels. If this is prospect turns to be accurate, Ghana will have around the same amount of oil as other crude oil countries who has about 2 billion barrels of oil in offshore oil fields. Other countries is extracting less than 2 million barrels of oil a day. So by 2011, when the Jubilee fields in

Ghana will become operational, Ghana will potentially be at the same level. Now, it is true, some stark differences between the countries exist. We know the oil in Ghana is as good as the one in other countries. Remember that the oil in Ghana is light crude oil, the best type of oil on the market, one that needs to be refined only once twice or thrice. There have been reports stating that in parts of the world oil is transferred straight to the gas stations without being refined at all. It is unclear whether the oil discovered in Ghana is of comparable quality or similar to the oil produced by other countries in the region – mainly other countries – which has the thick type of oil one that requires multiple “visits” to the local refineries before being sent to the has stations.But enough with technicalities. I know that many neon liberal economists still frown when thinking about the African model, but I think it has definitely proved successful.Other Countries refused any international assistance from the IMF and the World Bank after apartheid collapsed. It has relied exclusively on its internal resources and revenues. Sure the results haven’t always been positive, but Africa has successfully decreased the dependency on foreign actors. Given Ghana’s new status as an independent and strong democracy, maybe its politicians should have at least considered trying this alternative. Maybe this is what various African states need to show the world: that they can succeed on their own.There is little doubt in my mind that various highly placed officials in most of the international organizations still have a paternalistic view towards the African states. Most of these organizations have miserably failed in their attempt to help the same countries that they supported but secretly viewed as innocent children who need to be directed towards success. I thought maybe Ghanaian politicians would have preferred to have the chance of making their own mistake, learn their own lesson, and run their own country with as little external intervention as possible.PS: In the past I argued that His Excellency President Barack Obama chose Ghana as his first destination in Africa for its peaceful shift of power and for its symbolic value because Ghana is the # Number 1 Democracy practicing country that we you establish business,company or shop is forever . However, I know think that the oil prospects in Ghana might have had something to do with this decision. The United States is losing the battle for political and economic leverage in Africa. For example, the Obama administration has done nothing about Darfur, because once in office, Barack Obama learned the crude reality: the US has no leverage in Sudan whatsoever, so stopping the genocide there is a little problematic, at best. But the United States is reinforcing its strategic links in Africa with countries like Ghana Angola, Burkina Faso . I wouldn’t be surprised to see President Museveni of Uganda invited to Washington in the months to come either. The United States is finally fighting back China’s influence on the continent. It’s doing it as a very slow pace, almost shyly, but it’s doing it. Let’s see if it works.
 
"I think both sides have a stake in settling this, because if there's uncertainty, no one is going to invest anywhere near the disputed area for fear of having bought a license that's worthless," cautioned. A change of "one or two degrees" with respect to where a line is drawn out to sea can have a "huge impact 100 miles offshore," and neither side will be in a position to profit from resources found there,Warren told Oil Price.comCrude Oil Energy today announces that the company has inaugurated oil production from its $3.3 billion world-class Jubilee Field development offshore the Republic of Ghana, and its partners today are participating in a formal celebration to commemorate first oil hosted of Ghana. 

The first phase of Jubilee production has begun, tamping up to 55,000 barrels of oil per day (BOPD) this month and 120,000 BOPD during the first half of 2011 as additional wells are completed. This marks the beginning of Ghana’s first significant commercial oil production and will allow the country to join the ranks of sizable West African oil exporters.
“We are extremely pleased to have achieved this milestone for the Jubilee Field safely and on such an accelerated timetable”Production of Jubilee’s light sweet crude began only 42 months after field discovery. This accelerated timetable represents one of the shortest cycles for any deep-water floating production and storage and offloading (FPSO)-based oil project of this scale in ultra-deep water. Jubilee is one of the largest oil discoveries worldwide in 2007 and the biggest find offshore West Africa during the last decade.the project’s Technical Operator for Development, led the Integrated Project Team (IPT) that was responsible for the subsurface drainage plan and for managing the planning, design, procurement, fabrication, installation, hook-up and commissioning of surface and sub-sea facilities, including the FPSO.“We are extremely pleased to have achieved this milestone for the Jubilee Field safely and on such an accelerated timetable,” said Brian F. Max-ted, Chief Operating Officer. “, along with our partners in the Jubilee Field, including Oil plc, Petroleum Corporation, Oil & Gas, the Group and the Ghana National Petroleum Corporation, supported by the government of Ghana, most notably the Ministry of Energy, have together delivered the fast-track development of this national resource and created significant economic wealth for the people of Ghana and local economies.“We believe has played a key role in initiating what could become a viable oil industry in Ghana. led the discovery of the Jubilee oil field in 2007 and provided further leadership as Technical Operator for Development of the project. The project’s success is testament to our business strategy, which is focused on drill bit success and accelerated development. We look forward to a long-term working relationship with the government and people of Ghana,” Max-ted added.

Jubilee’s Phase 1 development, now completed, provides flexibility and expandability. The next phase of development will likely include infill wells, which will not require installation of additional sub-sea facilities at that time. In addition, plans are underway for the appraisal and development of additional discoveries on the West Cape Three Points Block and the adjacent Deep-water Tano Block.
Technical Operator for Development Led Integrated Project Team (IPT)The -led IPT developed the Jubilee Field using a field-proven sub-sea production and control system tied back to a turret-moored FPSO, the first president of Ghana his excellency “Dr. Kwame Nkrumah.” The FPSO was created by converting a Very Large Crude Carrier (VLCC) from a trading tanker to an FPSO vessel, retrofitting it with necessary modifications to enable safe and efficient production, storage and offloading operations. The IPT oversaw the design and conversion of the “Kwame Nkrumah” in Singapore’s Jurong Shipyard and its installation when the vessel arrived in Ghana last June.
The rechristened “Kwame Nkrumah” is capable of processing 120,000 BOPD, 160 million standard cubic feet per day (MMSCFD) of gas and storing up to 1.6 million barrels of stabilized crude. It is also capable of treating and injecting 232,000 barrels of water per day for reservoir pressure maintenance and compression, and re injecting or exporting 160 MMSCFD of gas.

For your,OFFSHORE CRUDE OIL IN GHANA OIL COMPANIES FOREIGN INVESTORS RESOURCES PEAK DISCOVERIES AND SCOURERS.You have to contact USA Investor for more information ,details and document about Ghana Crude Oil

Mr. Warren Greg
Telephone Number :             00233549714680       
E-mail : warrengreg2011@yahoo.com

Yours Faithfully Secretary,
Karen.