While the company operating the field , the Saltpond Offshore Producing Company Limited (SOPCL) reported a marginal increase , figures from the Ministry of Finance and the Ghana National Petroleum Corporation (GNPC) indicated a decline in production in 2014.
The SOPCL reported that a total of 79,602 barrels of oil was produced from the Saltpond Field in 2014 compared to 76, 995 barrels produced in 2013 whiles the Ministry of Finance and GNPC indicated that the Saltpond field produced 95,093 barrels of oil.
The MOF / GNPC figures showed that there was 9.5 percent year-on-year decline in production when compared to the 2013 production output of 105,040 barrels.
The PIAC , which has oversight responsibility for the management of the country’s petroleum resource , therefore , recommended that the institutions involved should work to resolve the discrepancies in lifting figures from the Saltpond field.
According to the PIAC discrepancies in the lifting figures did not give a true performance state of the oil producing field , which is located about 65 miles west of Accra , therefore the Government was not able to determine the actual royalties due.
Similarly , the lifting figures from the SOPCL and MOF/GNPC sources differed with SOPCL reporting increment in lifting whiles MOF/GNPC indicated otherwise ”the report said.
The committee also recommended a critical appraisal of the continuous operation of the field against the background of low crude oil prices. PIAC said it was not commercially sensible to continue oil production has been taking place since the 1970’s because it will be difficult for the company to meet its expenses , let alone declare profit.