In this list
Natural Gas | Oil

Ghana's oil production set for decline in 2022 after COVID-19 delays

Commodities | Energy | Oil | Crude Oil | Refined Products | Petrochemicals | Shipping | Tankers

Soaring crude tanker rates dent long-haul crude differentials

Energy | Oil | Crude Oil

Platts Crude Oil Marketwire

Biofuels | Renewables | LNG | Natural Gas | Oil | Petrochemicals | Marine Fuels | Tankers | Crude Oil | Refined Products | Bunker Fuel | Gasoline | Jet Fuel

APPEC 2022

Agriculture | Grains

Argentina restarts soy dollar program until year-end, China to buy 1 mil-1.5 mil mt

Metals | Steel | Steel Raw Materials

Insight Conversation: Luciano Siani Pires, Vale

For full access to real-time updates, breaking news, analysis, pricing and data visualization subscribe today.

Subscribe Now

Ghana's oil production set for decline in 2022 after COVID-19 delays

Highlights

Natural gas output on the upswing

More IOCs looking at Ghana, including ENI

Kosmos bought fields sold by Occidental

  • Author
  • Claudia Carpenter
  • Editor
  • Kshitiz Goliya
  • Commodity
  • Natural Gas Oil

Ghana's oil production is set to decline in 2022 as a result of coronavirus-related restrictions, which deferred work programs and other activities in 2020, the head of production at the country's state-owned oil company told S&P Global Platts.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

The West African nation's crude oil output will drop to about 146,500 b/d next year from 150,000 b/d currently after COVID-19 restrictions slowed development activities, Albert Longdon-Nyewan of the Ghana National Petroleum Corp. said Nov. 8 on the sidelines of the Africa Oil Week conference in Dubai.

Drilling and completion of wells will be expanded to five or six wells next year from four this year, helping production to rebound back to 2020 levels in 2023, he said. Oil production slipped to an average of 182,814 b/d in 2020 from 195,724 b/d in 2019, he said.

"We're doing everything we can to get production back on track," he said. Ghana's natural gas production is currently 280 MMcf/d and may hit 318 MMcf/d next year, he said.

Ghana is seeing growing interest from international oil companies to participate in its emerging oil and gas industries, including Italy's ENI, Longdon-Nyewan said. In October, Africa-focused explorer Kosmos Energy bought part of fields sold by Occidental.