Public Interest Accountability Committee
GHANA RECORDS 65 PERCENT HIKE IN GAS PRODUCTION
News Date : 27th November 2020

Production of Gas in Ghana recorded a significant increase of 65 percent for the first half as compared to the same period in 2019.

This is contained in the semi-annual report on oil management for the first half released by the Public Interest and Accountability Committee on Thursday (26 November).

“The cumulative raw gas production (Associated Gas-AG and Non – Associated Gas-NAG) for H1 2020 was 116,373.39 million standards cubic”

This represents a 65 percent increase over the volume (70,401.51 MMscf) produced for the same period in 2019, and the highest recorded half-year volume since 2010” It said.

Gas production from the Jubilee and TEN Fields increased by 30 percent each, whilst the SGN Field recorded a significant increase of about 130 percent from a volume of 25,009.76 MMscf in H1 2019 to 57,451.67 MMscf for the same period in 2020, due to stable production operations.

The 2020 Semi-Annual Report covers the period January to June 2020. It encompasses a broad range of issues associated with petroleum revenue management such as information on production, liftings, total revenues accruing and allocation by Government, and the management of the funds set aside in the Ghana Petroleum Funds (Ghana Stabilisation Fund and the Ghana Heritage Fund).

The Report also examines other issues pertinent to the performance of various institutions charged with responsibilities in the PRMA. It is important to indicate that this Report does not contain information on Annual Budget Funding Amount utilisation because the Ministry of Finance had not provided the data as at the time of publishing this Report.

The publication of PIAC Reports has suffered delays over time, and this year, the delay was largely due to the outbreak of Covid-19, which disrupted work activities.

Source : ghextractives.com