Ghana
Oil rig in Ghana's Jubilee field.
Area: Jubilee Field
Estimated barrels of recoverable crude: 1.8 billion
Major energy companies are looking at oil assets all along the coast of West Africa, but one of the most promising is the Jubilee field off the coast of Ghana.
Jubilee started producing oil commercially this past December, and could ultimately produce a total of 1.8 billion barrels worth of oil. But many foreign investors and explorers are still cautious, with good reason.
British company Tullow Oil discovered Jubilee in 2007, and it now shares ownership of it with an international independent that focuses on West Africa called Kosmos Energy, as well as American independent Anadarko.
In August, Kosmos tried to sell its stake in Jubilee, which could have been worth up to $4 billion, to ExxonMobil. The deal fell through because Ghana didn't have proper rules on the books to monitor the sale.
Ghanaian officials were worried that failed deal would tarnish relationships with the U.S. and other foreign investors. The government is now trying to renegotiate regulations to be friendlier to outside drillers, while still keeping the benefits, such as tax revenues from production.
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Last updated January 26 2011: 12:08 PM ET
