Ghana’s president sets 2020 oil target

TEHERAN, February 16, 2016 – Ghanaian President John Dramani Mahama said Monday his country could produce as many as 500,000 barrels of oil per day by 2020. Pointing to projects such as the Greater Jubilee full field development, Mahama said the country should be able to add significantly to its production capacity.

Tullow Oil, operator of the Jubilee field, submitted the Greater Jubilee field development plan in December. Also including the Mahogany and Teak fields, approval is expected in the first half of 2016. The company produced 102,600 barrels of oil per day gross in 2015, a figure that is forecast to remain level in 2016.

Mahama spoke in Iran accompanied by Minister of Petroleum Emmanuel Armah-Kofi Buah, who met his Iranian counterpart for talks on knowledge transfers on refining and distribution, power generation and human resources.

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