• About
  • Advertise
  • Privacy Policy
  • Contact
Monday, September 22, 2025
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

Ghana’s Oil Production to Decline in 2022

November 9, 2021
Stephen M.Cby Stephen M.C
in Extractives/Energy
0
saudi aramco

An Offshore Oil Rig

Ghana’s oil production is set to decline in 2022 as a result of coronavirus-related restrictions, which delayed work programs and other activities in 2020, according to the head of production at the country’s state-owned oil company (GNPC) as reported by S&P Global Platts.

Based on crude oil projections, output will drop to about 146,500 barrels per day (b/d) in 2022 from 150,000 b/d currently after COVID-19 restrictions slowed development activities, Albert Longdon-Nyewan, head of production at the Ghana National Petroleum Corp. said on the sidelines of the Africa Oil Week conference in Dubai on November 8, 2021.

While these concerns about the impact of COVID-19 pandemic on oil production were flagged entering into 2021, this lapse is likely to continue into the next year, he said.

RelatedPosts

Ghana Reaffirms Nuclear Energy Commitment at IAEA Conference

Otedola Warns DAPPMAN To Embrace Change Or Perish

Ghana’s Oil Earnings Dip, Risk Big Push Infrastructure Drive

Looking at total crude oil production from the three offshore producing fields- Jubilee, TEN, and the Sankofa field during the first half of 2021, production declined. Compared with 2020 figures, total crude oil fell by 18.9% from 34,236,596.97 barrels (bbls) in H1 2020 to 27,767,859 bbls of crude oil in H1 2021.

Longdon-Nyewan noted that 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. Oil production slipped to an average of 182,814 barrel per day in 2020 from 195,724 b/d in 2019.

“We’re doing everything we can to get production back on track”. Ghana’s natural gas production is currently 280 million cubic feet per day (MMcf/d) and may hit 318 MMcf/d next year, he said.

According to Longdon-Nyewan, Ghana is seeing growing interest from international oil companies to participate in its emerging oil and gas industries, including Italy’s ENI.

Russia
Offshore oil field
Oil Production and Increased Oil Assets in 2021

In October 2021, Africa-focused oil company Kosmos Energy bought part of Occidental’s shares on sale to the tune of US$550 million. The state-owned oil company also increased its stake in the Oxy’s sale transaction to the tune of US$200 million.

Chairman and Chief Executive Officer of Kosmos, Andrew G. Inglis said in the company’s recent third quarter results:

“With the recently executed transactions, Kosmos has significantly enhanced the outlook for the Company. The Oxy Ghana transaction accelerates our strategic delivery with increased near-term production and cash flow driving down leverage. The cash flow from the acquired assets also supports our portfolio transition to Liquefied Natural Gas (LNG) at a time of increasing global gas demand.”

In July, 2021, Eni made a significant oil discovery on the Eban exploration prospect in CTP Block 4, offshore Ghana. After preliminary assessments of the field, the oil major said the production testing data show an estimated well deliverability potential at 5,000 b/d.

Tullow Oil plc has also announced a ‘Value Maximization Plan’ with the intention to invest over US$4 billion over the next decade to deliver over 50 wells and deliver consistent revenue to Tullow and Ghana.

Although these expected increases in oil production and investments in the country’s oil fields are important notes, these are not likely to shoot up oil production as Longdon-Nyewan indicated.

READ ALSO: Benchmark advances to 2,968.01 points Amidst Up-swinging Market Capitalization

Tags: Africa Oil Week conferenceOil Assetsoil productionS&P Global Platts
Please login to join discussion
Previous Post

I Welcome an Investigation- Mahama to EC

Next Post

Ghana to Host AfDB Group 2022 Annual Meeting

[mc4wp_form id="1264"]

Related Posts

Ghana’s Deputy Minister for Energy and Green Transition
Extractives/Energy

Ghana Reaffirms Nuclear Energy Commitment at IAEA Conference

September 22, 2025
Nigeria’s Economy Records Fastest Growth In Four Years
Africa

Nigeria’s Economy Records Fastest Growth In Four Years

September 22, 2025
Kaja Kallas, European Union’s Foreign policy Chief as Prisoner Exchange Amid Heavy Russian Airstrikes On Ukrainian Cities
Europe

Russian Incursion Into Estonia Deemed “Deliberate Provocation”

September 22, 2025
President John Dramani Mahama
General News

President Mahama to Launch “Accra Reset” at 80th UN General Assembly

September 22, 2025
Tiwa Savage on Being Banned, Rejected
Entertainment

Tiwa Savage Expresses Admiration for Nigerian Artist

September 22, 2025
Bismark Nortey
General News

Farmers Sound Alarm on Food Imports Bill as UTAG Blasts Parties Over Galamsey

September 22, 2025
Ghana’s Deputy Minister for Energy and Green Transition
Extractives/Energy

Ghana Reaffirms Nuclear Energy Commitment at IAEA Conference

by Evans Junior OwuSeptember 22, 2025
Nigeria’s Economy Records Fastest Growth In Four Years
Africa

Nigeria’s Economy Records Fastest Growth In Four Years

by Lawrence AnkutseSeptember 22, 2025
Kaja Kallas, European Union’s Foreign policy Chief as Prisoner Exchange Amid Heavy Russian Airstrikes On Ukrainian Cities
Europe

Russian Incursion Into Estonia Deemed “Deliberate Provocation”

by Comfort AmpomaaSeptember 22, 2025
President John Dramani Mahama
General News

President Mahama to Launch “Accra Reset” at 80th UN General Assembly

by Evans Junior OwuSeptember 22, 2025
Tiwa Savage on Being Banned, Rejected
Entertainment

Tiwa Savage Expresses Admiration for Nigerian Artist

by Esther Korantemaa OffeiSeptember 22, 2025
Bismark Nortey
General News

Farmers Sound Alarm on Food Imports Bill as UTAG Blasts Parties Over Galamsey

by Silas Kafui AssemSeptember 22, 2025
Ghana’s Deputy Minister for Energy and Green Transition
Nigeria’s Economy Records Fastest Growth In Four Years
Kaja Kallas, European Union’s Foreign policy Chief as Prisoner Exchange Amid Heavy Russian Airstrikes On Ukrainian Cities
President John Dramani Mahama
Tiwa Savage on Being Banned, Rejected
Bismark Nortey
[/vc_row_inner]

Recent News

  • Ghana Reaffirms Nuclear Energy Commitment at IAEA Conference
  • Nigeria’s Economy Records Fastest Growth In Four Years
  • Russian Incursion Into Estonia Deemed “Deliberate Provocation”
  • President Mahama to Launch “Accra Reset” at 80th UN General Assembly
  • Tiwa Savage Expresses Admiration for Nigerian Artist
The Vaultz News

Copyright © 2025 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2025 The Vaultz News. All rights reserved.