Ghana To Become 4th Major Oil Producing Country By 2020 –Report

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A new report has tipped Ghana as becoming one of major oil producing nations in Africa if some its fields begin production.

A pan-African bank Ecobank report has revealed that Ghana could become the fourth biggest oil producer in sub-Saharan Africa by 2020 once two new offshore fields come on stream, to push total output above 240,000 barrels per day (bpd), .

Ghana produces around 103,000 bpd ranking it ninth, far behind Nigeria and Angola, which produce an average of 1.867 million bpd and 1.754 million bpd respectively, said the Ecobank research report.

Ghana’s Tweneboa-Enyenra-Ntomme (TEN) field came on stream in August and is expected to increase output to a peak of around 80,000 bpd.

The Jubilee field which started producing oil in 2010 and is operated by British oil company Tullow, could bounce back to production of around 115,000 bpd once it solves technical problems with its production vessel.

At the same time, the Sankofa field operated by Italian company ENI is due to open in August 2017, and should produce around 30,000 bpd, while US independent Kosmos Energy plans to connect the Mahogany-Teak-Akasa (MTA) field to the Jubilee oil production ship.

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