Public Interest Accountability Committee
GHANA’S CRUDE OIL PRODUCTION EXCEEDS 420 MILLION BARRELS IN ALMOST A DECADE
News Date : 1st December 2020

Crude oil production by Ghana since December 2010 till June 2020, totaled 420,697,489.97 bbls.

This is according to the 2020 semi-annual report of the Public Interest and Accountability Committee (PIAC).

Ghana’s initial crude oil production in December 2010, totaled a little over 1.8 million barrels.

Meanwhile, according to PIAC’s report, crude oil production in the first half of 2020 reduced marginally, relative to that of 2019.

A total of 34,236,596.97 barrels (bbls) of oil was produced from Ghana’s three offshore producing fields – Jubilee, TEN, and SGN – representing a 0.21 per cent decrease from the first half of 2019 production volume of 34,309,685.53 bbls, and the first year-on-year (y-o-y) reduction in a half-year since 2016.

The decrease, PIAC notes is as a result of reduced production from the Jubilee and TEN Fields.

Production on the Jubilee Field was 15,406,903 bbls, compared with 16,035,225 bbls for the same period in 2019.

The TEN Field witnessed a decrease of 16.67 percent, with 9,266,872.00 bbls in the first half (H1) of 2020 against 11,120,126 bbls in H1 2019.

Average daily production on the Jubilee Field in H1 2020 was 84,723 bbls compared to 88,303 bbls in H1 2019, representing a decrease of 4 per cent.

January 2020 recorded the least oil production of 1,979,020 bbls while May 2020 recorded the highest monthly production of 2,814,085 bbls.

The average daily production of 50,916 bbls on the TEN Field in H1 2020, was a 22 per cent reduction compared to the 65,040 bbls in H1 2019.

This, PIAC explains was mainly as a result of increasing water cut, especially in the Enyenra area, and the delay in the NT09-P coming on stream.

The SGN Field’s oil production continued to increase, with 9,562,821.97 bbls produced in the period, representing a 34 percent increase over H1 2019 production of 7,154,335 bbls.

As a result, average daily production increased to 52,543 bbls from 39,534 bbls for the same period in 2019.

The increase was attributed to stable production operations, resulting from the FPSO John Agyekum Kuffuor’s (JAK) excellent plant uptime of about 99.95 percent, and the coming on stream of the OP-9 and OP-10 producer wells.

Source : norvanreports.com