GENERAL NEWS

MINISTRY OF ENERGY MEETS THE PRESS-IS GHANA LOSING $30 BILLION?

Published

5 years ago

04/28/2019

Lionel

Imani tried to alarm Ghanaians about a potential loss of $30 billion to the country if the government failed to negotiate a new petroleum agreement with new terms with the DWT/CTP partners. This is absolutely false.

Aker Energy, on behalf of its partners announced after a successful appraisal of the Pecan Field discovery, a significant oil find as captured below:
“Based on existing subsurface data from seismic, wells drilled and an analysis of the Pecan -4A well result, the existing discoveries are estimated to contain gross contingent resources (2C) of 450 – 550 million barrels of oil equivalent (mmboe)”.

*How did IMANI arrive at valuation of the field at $30 billion?*

It simply multiplied the assumed price of $65 per barrel by 450 million barrels. This exposes the weaknesses in IMANI’s analyses as well asits poor understanding of petroleum economics.

The 450 million barrels of oil equivalent are gross contingent resources, which are the potential resource available all of which cannot be recovered under current technology. IMANI wants us to believe that all the 450million barrels of oil equivalent will be produced but fails to explain how that can be.

In Ghana, our average crude oil recovery rate is 25%. At this rate, the field value will be estimated at $7.3 billion assuming a price of $65 per barrel. We are working with Aker Energy to enhance oil recovery mechanismto achieve a recovery rate of 40%, which will be the highest in Ghana’s oil and gas history and which occurrence will appreciate the value to $11.7 billion. This will be a significant gain for both Ghana and the partners.

ENTERTAINMENT

Smoke Ice Music/JayRaw Multimedia Signs Kulli Jay, A Budding Afrobeats Artiste

Published

3 weeks ago

04/01/2024

Lionel

Smoke Ice Music and JayRaw Multimedia has announced the signing of a new male singer, Kulli Jay to their record label, Smoke Ice Music/JayRaw Multimedia.

The up-and-coming musician, Kelvin Osei Owusu who goes by the stage name Kulli Jay, also expressed his excitement about the deal, promising his best under the new management.

Kulli Jay, the new signee has been churning out a couple of music before he came into contact with Smoke Ice Music/Jayraw Multimedia. The announcement and signing was posted on the socials of the Label. Speaking to the CEO of Ice Smoke Music, he promises that their new signee is full of goodies and that Ghana and beyond should expect something awesome.

Kulli Jay is expected to drop his newest single under the label very soon.

Connect With Smoke Ice Music

Facebook: Smoke Ice Music

Instagram: Smoke Ice Music

Twitter: Smoke Ice Music

TikTok: Smoke Ice Music

GENERAL NEWS

Meet Derrick Ampadu Ansong, The Grandson Of The Late Legendary Nana Kwame Ampadu

Published

1 month ago

03/13/2024

Ghost Blogger

Derrick Ampadu Ansong, known by his stage name Ampadu Ansong, is a multifaceted Ghanaian talent who has made a significant impact in Ghana’s entertainment industry. With his charm, energy, and versatility, Ampadu Ansong has become a popular figure in showbiz circles. From his early years in the bustling capital city of Accra.

Ampadu Ansong has proven his ability to captivate audiences and create memorable experiences. In this article, we will delve into his background, career, and contributions to the world of Ghanaian entertainment.

Derrick Ampadu Ansong who is the Grandson of the legendary musician The Late Nana Ampadu, a student of Ghana Telecom University who comes from kwaku in the Eastern part of Ghana.

Ampadu Ansong works with the record label known as Chambers Records. He has 3 singles to his credit namely, Hallelujah,Tina and Alone, and soon to release another amazing single. Growing up in the capital city, he was exposed to the vibrant and diverse entertainment scene that characterizes Accra.

This early exposure ignited his passion for the arts. Throughout his schooling years, Ampadu Ansong displayed natural talent in hosting and entertaining, captivating his peers and teachers with his charisma and quick-witted humor.

Stream his song below