According to a statement made by the African Energy Chamber, one of Africa’s rapidly evolving oil and gas markets, Ghana,is seeking to double its crude oil production by the end of 2023
That way, the numbers increase from around 180,000 barrels per day (bpd) to 420,000 bpd, backed by commercial discoveries in the Tano Cape Three Points block.
“Ghana has positioned itself to attract investments in the energy sector,” Egbert Faibille Jr, CEO of the Petroleum Commission of Ghana, said at a recent event.
“We have several blocks open for direct negotiation and three available for farm-in opportunities. We have some fields that are in pre-development, so if we are able to get contractors, we should see a surge in production by 2030,” he said.
At least 26 drilling campaigns and rigs are expected in Africa this year, setting the stage for its upstream revival, according to the chamber.
“Two-thirds of oil resources are exported out of Africa. As governments, we need to be able to come together and ensure that our resources are being used for African development,” said OA Danquah, CEO of Ghana National Petroleum Corp.
“Our strategic advantage is that we have a lot of supply and potential demand, so our resources can never be locked,” he added.
