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Ghana Overview

Ghana

in figures

Oil Reserves684 million barrels

Oil Production92,000 bopd

Gas Reserves55 bcm

Gas Production560 mcm

Ghana: Attractive Investment Climate

After more than a century of unsuccessful oil exploration, Ghana was catapulted into the world of oil exporting economies with the 2007 discovery of the Jubilee field. It started producing oil in 2010, a mere 40 months after discovery, and it is the only major deepwater field in the country.

The field has not yet provided the revenues that the government expected due to technical difficulties, but work to repair the problem is set to be completed in 2019. Together with  the development of major new fields at Tweneboa, Enyenra and Ntomme – as well as Eni’s Sankofa, which came on line in May 2017 – the country is expected to become sub-Saharan Africa’s fourth-largest producer by 2020 with 240,000 bopd.

Ghanaian oil production is opening up new opportunities for local companies while spurring the government to invest in new infrastructure and set out new regulations, promotions and incentives. Having also discovered substantial reserves of natural gas, Ghana is implementing an aggressive plan for gas utilisation with financing from China. Ghana sees natural gas as a stable power supply and cheap energy for growing domestic industry.

For an even more comprehensive view of the Ghanaian hydrocarbons sector, see our business intelligence platform TOGYiN. TOGYiN features profiles on companies and institutions active in Ghana, and it provides access to all our coverage and content, including our interviews with key players and industry leaders.

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14 companies progress in Ghana bid round

14 companies progress in Ghana bid round

January 24, 2019

Ghana’s Ministry of Energy has pre-qualified 14 companies to bid for five oil blocks, local media reported Thursday.

Out of…

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Diversity in Energy Summit News
Aker Energy confirms oil find in Ghana
January 10, 2019

Aker Energy announced successful results for its Pecan-4A appraisal well offshore Ghana on Thursday.

Drilled in the Deepwater Tano Cape Three Points (DWT/CTP) block,…

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Ghana opens oil bid pre-qualifications
December 25, 2018

Ghana’s Ministry of Energy has opened applications for pre-qualification in the country’s first oil and gas exploration licensing round, local media reported Monday.…

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Ghana receives 60 oil block bids
December 24, 2018

Ghana’s Ministry of Energy has received 60 bids from 16 companies in the country’s first oil and gas exploration licensing round, local media reported Saturday.…

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Ayesha BEDWEI, Partner, Tax of PWC GHANA

Ayesha Bedwei, a tax partner at PwC Ghana, explains the business climate in Ghana and the role of the oil and gas industry in the national economy. PwC Ghana advises…

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Oil tanker splits in Ghana habour
December 14, 2018

A tanker carrying 1,200 tonnes of crude oil split in two at Ghana’s Tema Port, local media reported Friday.

All 10 crew members aboard the MT Anthony were…

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Tullow seeks Ghana partner
December 07, 2018

Tullow Oil has announced it is looking for partners to acquire a new block in Ghana, international media reported Thursday.

“We are looking for both local and…

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