There has been a new discovery of crude oil in Ghana, this time in the Dzata field offshore the West Cape Three Points area. The discovery is quite different from the Jubilee Fields discovery where crude oil production is expected to commence later this year. Russia’s second biggest oil producer OAO Lukoil, together with the Ghana National Petroleum Corporation and Vanco Energy of the US, own the field where the discovery was made. GNPC’s Director of Exploration and Production, Thomas Manu, tells Joy Business further appraisal work needs to be done to establish a fair estimate of crude oil contained in the field. “We’ll have to drill other wells on the structure after which we would then be in a better position to accurately measure the volumes of oil and gas that has been found. But the 25-metre column that we have discovered is enough to say that there is a discovery,” he said. Mr Manu said there will be further appraisal to find out the exact volume after which the producers will design a plan of action to drill the oil. Ghana is expected to start commercial production of oil later this year with initial production capacity of 200,000 barrels per day. Although expectations earlier were high that the find would generate a lot of revenue for the country, analysts say the expected revenue in the first few years will not be very huge. Source: Joy Business/Myjoyonline.com/Ghana