Ghana’s oil production has been declining, from 200,000 barrels per day in 2019 to between 120,000 and 130,000 barrels per day.
To address this, the newly appointed Acting Chief Executive Officer of the Ghana National Petroleum Corporation (GNPC), Mr. Kwame Ntow Amoah, has challenged GNPC Explorco to take the lead in increasing oil production.
Mr. Ntow Amoah emphasized the need for speed and efficiency in Explorco’s operations, stating that the company is crucial to strengthening Ghana’s position in the oil and gas industry.
He noted that GNPC aims to rapidly increase oil production and become an industry leader once again.
The decline in oil production is attributed to various factors, including technical and operational challenges in mature fields, as well as the natural aging of existing fields.
To reverse this trend, stakeholders have called for pragmatic efforts, including the adoption of a multi-pronged strategy focused on economic diversification, sustainable exploitation of petroleum resources, and promotion of renewable energy.
Source: https://energynewsafrica.com
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