16 Dec 2010

Ghana begins oil production

8:48 am on 16 December 2010

The West African nation of Ghana has become the world's newest oil producing country.

In a televised ceremony, the President of Ghana, John Atta Mills, opened the valves of the offshore Jubilee field to pump the first oil.

A consortium led by UK-based Tullow Oil hopes to produce 55,000 barrels per day, increasing to 120,000 barrels in six months.

The government has forecast that the oil will boost Ghana's economic growth rate from 5% this year to as much as 12% next year, the BBC reports