Government has revealed plans are far advanced to rehabilitate the Salt Pond oil field so as to allow for shallow water oil exploration to begin at full capacity by the end of the year.
The Saltpond Oil Field which has been in existence since 1978 was reactivated in the year 2000 after its shut down in 1985 due to low production and financial constraints.
However despite the reactivation of the field by the Ghana National Petroleum Company (GNPC) in November 2000 at the cost of GH¢2.6 million the field has largely remained inactive.
However addressing the media in Accra the Chief Executive Officer of GNPC, Alex Mould, said plans were far advanced for change of ownership by September ending to pave way for operation of the fields
