Oil reserves681 million barrels
Oil production190,000 bopd
Gas reserves58 bcm
Annual gas production630 mcm
Ghana: An Attractive Climate
After more than a century of unsuccessful oil exploration, Ghana was catapulted into the world of oil exporting economies with the 2007 discovery of the Jubilee field. It started producing oil in 2010, a mere 40 months after discovery, and remains the only major deepwater field in the country.
The field has not yet provided the revenues that the government expected due to technical difficulties, but work to repair the problem is set to be completed in 2019. Together with the development of major new fields at Tweneboa, Enyenra and Ntomme – as well as Eni’s Sankofa, which came on line in May 2017 – the country is expected to become sub-Saharan Africa’s fourth-largest producer by 2020 with 240,000 bopd.
Ghanaian oil production is opening up new opportunities for local companies while spurring the government to invest in new infrastructure and set out new regulations, promotions and incentives. Having also discovered substantial reserves of natural gas, Ghana is implementing an aggressive plan for gas utilisation with financing from China. Ghana sees natural gas as a stable power supply and cheap energy for growing domestic industry.
The Oil & Gas Year Ghana 2019 is published in collaboration with Ghana Oil Club. This third edition covers the lessons learned from the global oil price downturn and the opportunities that are becoming available as commodity prices recover. The book also provides readers with a complete perspective of the country’s main energy projects and steps the government is taking to draw in more foreign investment.
Ghana Exploration and Production Licences 2020
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