Tullow Oil Ghana Wins Award

Tullow Oil Ghana won the Oil and Gas deal of the year award at the Africa Investor Infrastructure Awards ceremony held at the plush Cape Town Convention Centre in South Africa on Wednesday night. The awards recognize the achievements across the main infrastructure sectors in Africa and reward the personalities driving transactions and improving the continent�s infrastructure investment climate. Tullow was recognized for playing immense role in the discovery of oil in commercial quantities in Ghana last year. Production of oil and gas in Ghana is expected to commence by the last quarter of 2010. Full field development output is expected to hit 250n000 barrels of oil and 250 million cubic ft of gas per day. Mr. George Aboagye, Chief Executive Officer of Ghana Investment Promotion Centre (GIPC), who is leading an investment promotion mission to South Africa, received the award from Mr. Hubert Danso, Executive Vice Chairman and Managing Director of Africa Investor, on behalf of Tullow Ghana. Commenting on the award, Mr. Aboagye said the discovery of oil has presented a lot of benefits, including enormous opportunities for the services industry. �In fact, it is estimated that US$5billion worth of business would be generated annually as support services for the sector and that is part of the reason why we are here to look for investors to come in to do business in Ghana,� he said. Mr. Aboagye said the government is committed and supportive of private sector initiatives for investment and would continue do so to accelerate Ghana�s development to earn more international recognition. Mr Seth Agyei Baah, first vice president of Ghana National Chamber of Commerce and Industry and MP for Nkawkaw, Mr. Kojo Twum Boafo, CEO of Ghana Free Zones Board and Mr. Amanor Daku-Mante.