Finance Minister Ken Ofori Atta has announced that Ghana’s overall crude oil production is expected to more than double over the next four years. This comes after Aker Energy ASA confirmed a significant offshore resource base in Ghana with a declaration to scale up new development in the Deepwater Tano Cape three points block (DWT/CT).
Last month, Aker Energy ASA announced the biggest oil find in Africa, of 450-550 million barrels, with potential recoverable reserves of nearly one billion barrels. Interacting with investors in Oslo Mr Ofori-Atta said Ghana has re-asserted herself strongly as a key destination for petrochemical industry players.
“Overall, crude oil production is expected to increase from 196,089 barrels per day in 2019 to 420,020 barrels per day in 2023,” said Ofori-Atta. First oil from the Aker fields is expected between the last quarter of 2020 and the first quarter of 2021.
“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, and operating within a democratic, open and fair society in which mutual trust and economic opportunities exist for all,” he added. Deputy Minister of Energy, Mohammed Amin Adams, on his also noted Ghana’s production of crude oil is expected to reach half a million barrels by 2025.
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