Ghana’s oil production to go up to 420,000 barrels by 2023

Ghana’s Minister of Finance Ken Ofori Atta last weekend, told investors in Oslo, Norway, that overall crude oil production from Ghana was expected to more than double over the next four years.

Addressing the meeting of 20 key international companies, Ofori-Atta, stated that Ghana has re-asserted herself strongly as a key destination for petrochemical industry players.

In his words, production is expected to increase from 196,089 barrels per day in 2019 to 420,020 barrels per day in 2023.

Going forward, the vision of government is to create an optimistic, self-confident and building a prosperous nation, through the creative exploitation of our human and natural resources, the Minister said.

The Aker Energy ASA has confirmed a significant offshore resource base in Ghana and had committed to scaling up new development in the Deepwater Tano Cape Three (DWT/CT) points block.

Between 2012 and 2016, Hess – an Oil & Gas company — sought, unsuccessfully, to appraise the Pecan field (now with Aker as operator) and agreed with the government of Ghana on a feasible plan of development for the discovery.

In addition to the new Aker Energy reserves, the government plans to capitalize on Tullow Oil’s new drilling program, which is expected to begin in the second half of this year.