Ghana to Boost Crude Oil Production

Africa’s latest oil exporter Ghana will ramp up production significantly by 2017. According to the Deputy Minister of Finance and Economic Planning, Fifi Kwetey, the country will produce 500,000 barrels per day by 2017.

Ghana currently produces an average of 90,000 barrels per day from its main Jubilee field. The country plans to increase this production to 120,000 by next year.

According to Bloomberg, “Tullow this month awarded Technip SA of France 100 million euros ($132 million) of contracts to manage the next phase of the Jubilee field’s development. Phase 1A will cost about $1.1 billion, Tullow said in January.

“Phases 1A and 1B, which together with Phase 1 will target 500 million to 700 million barrels in estimated oil reserves, will enable London-based Tullow and its partners to increase production to about 240,000 barrels of oil equivalent a day after 2014.”

One Comment

1. 

   Michael

   February 8, 2012 at 10:46 am

   LOOK AT COMMON GHANA OF YESTERDAY .
   THERE LEADERS ARE BUSY  ORGANISING ITSELF PROPERLY ,BUILDING THERE COUNTRY AS A NATION,CORRECTING EVERY WRONG THING , BUILDING THERE NATIONS PRIDE WHILE OUR (NIGERIANS) .

   NIGERIAN LEADESR ARE BUSY CORRUPTING THE YOUNG ONES, TURNING THEM TO TUGS AND MODERERS, DISTABILISING THERE NATIONS/COUNTRY , MAKINGTHE YOUNG GIRL TURN TO PROSTISTUDE ,INFACT PLANING TO LEGALISE PROSTITUTIONIN TH ECOUNTRY,DISTROYING ALL ORGANSOF GOVERNMENT WITH CORRUPT PRACTICES RANGING FROM OIL AND GAS SECTOR,JUDICIARY,CIVIL SERVICE,POLICE ,ARMY,SSS,PRIVATE SECTOR COMPANIES,CHURCHES AND ALOT MORE .

   A COUNTRY WHO CANNOT MANAAGE ITS RESOURCES APART FROM PRIVITALISING IT IS A USELSS COUNTRY .
   WHY IS USMUK,GERMANY NOT PRIVATISING CORE SECTORS OF THERE ECONOMY ,THE WILL NEVER DO THAT BECAUSE THEY ARE WISER .

   NIGERIA IS  A FAILED STATE .