Ghana’s oil production to go up 500k barrels per day by 2023 – Ofori Atta

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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 affirmed a noteworthy seaward asset base in Ghana with a presentation to scale up new improvement in the Deepwater Tano Cape three points square (DWT/CT).

A month ago, Aker Energy ASA reported the greatest oil find in Africa, of 450-550 million barrels, with potentially recoverable stores of almost one billion barrels.

Interfacing with financial specialists in Oslo Mr. Ofori-Atta said Ghana has re-stood up for herself firmly as a key goal for petro-compound industry players.

“By and large, raw petroleum generation is relied upon to increment from 196,089 barrels for every day in 2019 to 420,020 barrels for each day in 2023,” said Ofori-Atta. First oil from the Aker fields is normal between the last quarter of 2020 and the first quarter of 2021.

“Going ahead, the vision of government is to make an idealistic, self-assured and fabricating a prosperous country, through the innovative abuse of our human and characteristic assets, and working inside popularity based, open and reasonable society in which common trust and monetary open doors exist for all,” he included.

Appointee Minister of Energy, Mohammed Amin Adams, on his likewise noticed Ghana’s generation of raw petroleum is relied upon to achieve a large portion of a million barrels by 2025.

The following is the full explanation

GHANA’S OIL PRODUCTION ESTIMATED TO GO UP TO 500,000 BARRELS

Every DAY BY 2024

Aker Energy ASA has affirmed a critical seaward asset base in Ghana and has resolved to scale up new advancement in the Deepwater Tano Cape three square (DWT/CT).

A Government of Ghana designation driven by Finance Minister, Honorable Ken Ofori-Atta, Wednesday declared to speculators in Oslo, Norway, that general unrefined petroleum generation from Ghana was relied upon to dramatically increase throughout the following four years.

Tending to the gathering of 20 key universal organizations, Hon. Ofori-Atta expressed that Ghana has re-stood up for herself firmly as a key goal for petrol-substance industry players.

A month ago, Aker Energy ASA reported the greatest oil find in Africa, of 450-550 million barrels, with potentially recoverable stores of about one billion barrels.

“By and large, raw petroleum creation is relied upon to increment from 196,089 barrels for every day in 2019 to 420,020 barrels for each day in 2023,” said Honorable Ofori-Atta. First oil from the Aker fields is normal between the last quarter of 2020 and first quarter of 2021.

“Going ahead, the vision of government is to make an idealistic, fearless and building a prosperous country, through the inventive abuse of our human and normal assets, and working inside a popularity based, open and reasonable society in which shared trust and monetary open doors exist for all,” said the Minister for Finance.

As per Deputy Minister of Energy, Honorable Mohammed Amin Adams, Ghana’s creation of raw petroleum is required to achieve a large portion of a million barrels by 2025.

Government appointment, which incorporated the Minister of Transport, Kwaku Ofori Asiamah, had broad exchanges with Aker and other related substances. The dialogs additionally featured plans to build up the Tema Drydock Shipyard. This is in accordance with President Akufo-Addo’s vision to guarantee Ghana builds up shipbuilding, and Floating Production Storage and Offloading (FPSO), limit.

The legislature of Ghana is the sole investor of PSC Tema Shipyard Company, which works Tema Shipyard.

Kjell Inge Rokke, the dominant part proprietor of Aker — a delivery and seaward penetrating combination — declared his responsibility to contribute fundamentally to the President’s vision to make Ghana noteworthy ship-building and fix works center point on the planet.

Somewhere in the range of 2012 and 2016, Hess – an Oil and Gas organization — looked for, unsuccessfully, to assess the Pecan field (presently with Aker as administrator) and concurred terms with the legislature of Ghana on a practical arrangement of improvement for the revelation. Hess’ underlying evaluation demonstrated assets of 230 million barrels of oil comparable.

In 2017, after exchanges with the Ghana National Petroleum Corporation, Aker reported its obtaining of Hess’ enthusiasm for the DWT/CT License.

Aker and its accomplice, working intently related to the Petroleum Commission and GNPC, quickly embraced arrangements for an extensive penetrating system, with Pecan 4A being the first of three arranged wells.

In light of existing subsurface information from seismic and wells bored, including an examination of the Pecan-4A well outcome, the current revelations are assessed to contain net unexpected assets (2C) of 450 – 550 million barrels of oil proportionate (mmboe). Aker Energy assesses that with the following two well focuses on, the complete volume potential is 600 – 1,000 mmboe.

So as to completely build up the DWT/CT, the accomplices will be required to influence critical capital interest in Ghana with evaluations of all-out undertaking to spend in an abundance of $10bn.

The Ghanaian appointment in Oslo, incorporate the Deputy Minister of Finance, Hon. Charles Adu Boahen, CEO of Petroleum Commission, Egbert Faibille, CEO of Ghana Gas, Ben Asante.

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