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Ghana produces 16.7 million barrels of crude oil, earns $337m from January to September 2011

Since became an oil producer on December 15, 2010, the country has produced 16.7 million barrels of oil from January to September, 2011, the Minister of Energy has said.

Speaking to journalists at a news conference in Accra October 6, 2011, Dr Joe Oteng Adjei said all partners in the Jubilee oil field have done a total of 24 crude liftings within the period with Ghana, through the Ghana National Petroleum Corporation (GNPC), lifting only three so far and earning $337 million from the sale.

“The total crude oil production from January 2011 to September 2011 was about 16.7 million barrels. There was a total of 24 crude liftings from the field by all the partners. The Ghana Group earned a total of  $337,337,945 from the sale of the first three liftings totalling 2,980,720 barrels of crude oil,” Dr Oteng Adjei told reporters.

Ghana achieved an industry record of 3.5 years (40 months) from discovery of oil to first oil production which began December 2010.

Oil production increased steadily from the initial average of 45,000 barrels of oil per day in January 2011 to about 77,000 barrels of oil per day on the average in August 2011, said the Minister.

http://www.ghanabusinessnews.com/2011/10/06/ghana-produces-16-7-million-barrels-of-crude-oil-earns-337m-from-january-to-september-2011/

 

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