A high-powered Ghanaian delegation will assemble at the dockside of Singapore's Jurong Shipyard on Saturday, May 1, to participate in the commissioning of the Floating Production Storage and Offloading (FPSO) Vessel of the Jubilee Project.

The delegation, which would witness one of the most anticipated milestones of the Jubilee Phase One Development Project include Government officials and Chief Executives of the partners of Jubilee Project.

The construction of the FPSO began in 2008 and involved the conversion of an existing VLCC tanker by MODEC, a leading international company in the FPSO industry that has been providing engineering, construction, installation and operation services for the last 25 years.

A high-powered Ghanaian delegation will assemble at the dockside of Singapore's Jurong Shipyard on Saturday, May 1, to participate in the commissioning of the Floating Production Storage and Offloading (FPSO) Vessel of the Jubilee Project.

The delegation, which would witness one of the most anticipated milestones of the Jubilee Phase One Development Project include Government officials and Chief Executives of the partners of Jubilee Project.

The construction of the FPSO began in 2008 and involved the conversion of an existing VLCC tanker by MODEC, a leading international company in the FPSO industry that has been providing engineering, construction, installation and operation services for the last 25 years.

Dr. Ngozi Okong-Iweala, Managing Director of the World Bank Group, says Africa has gone past the era of being tagged a continent of Third-World countries.

Dr. Okong-Iweala, herself an African, said: "People should look at us [Africa] as a pole of growth. Africa should not only be seen as a continent with cup in hand always looking for aid, but a continent where some of the countries are doing so well they can be seen as middle-income countries."

Speaking with the B&FT in an interview at her office, Ngozi said: "Africa has come of age, and we do not just need aid but investments. It is now an active member of the new multi-polar global economy. Old concepts of the Third-World no longer apply in the new multi-polar global economy."

A Deputy Minister of Energy, Mr Emmanuel Armah-Kofi Buah, on Friday announced that the country was on course to pump its first oil from the Jubilee Field come the last quarter of this year.

Production in the last quarter, he said, marked the beginning of the first phase of the Jubilee Field Project. A total of 120,000 barrels of oil a day and 120,000 mmscfd of gas a day are expected to be produced.