BusinessOil & Gas/Mining

Ghana records 65% hike in gas production in 2019

Gas production from the Jubilee and TEN fields increased by 30% each, whilst the SGN Field recorded a significant increase of about 130%

Production of Gas in Ghana recorded a significant increase of 65% 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 (PIAC) on Thursday (26 November).

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

This represents a 65% 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% each, whilst the SGN Field recorded a significant increase of about 130% from a volume of 25,009.76 MMscf in the first half of 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 from 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 (ABFA) utilisation because the Ministry of Finance had not provided the data as at the time of publishing this report.

The publication of the 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

Fred Dzakpata

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