Finance Minister: Ghana's Oil Production to Rise Six-Fold by 2018


ACCRA, May 20 (Reuters) – Ghana's oil production will rise six-fold by 2018 to an estimated 242.3 million barrels from 39.1 million barrels this year as new fields start production, Finance Minister Seth Terkper said on Wednesday.

Terkper said the West African country was also forecast to produce 37 billion cubic feet of gas this year, adding that the government's objective was to add value to its energy production by turning gas into power domestically.

He forecast that medium-term economic growth would rebound to 8-9 percent a year.

(Reporting by Kwasi Kpodo; Writing by Daniel Flynn; Editing by Bate Felix)

Copyright 2016 Thomson Reuters. Click for Restrictions.


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Logistics Coordinator & Optimization Analyst
Expertise: Logistics Management
Location: Billings, MT
Associate Category Manager or Category Manager Job
Expertise: Logistics Management|Purchasing|Supply Chain Management
Location: Denver, CO
Contracts Advisor
Expertise: Budget / Cost Control|Contracts Engineer|Supply Chain Management
Location: San Ramon, CA
search for more jobs

Brent Crude Oil : $51.78/BBL 0.77%
Light Crude Oil : $50.85/BBL 0.83%
Natural Gas : $2.99/MMBtu 4.77%
Updated in last 24 hours