In Ghana, after a continuous decline for five years, crude oil production finally experienced a significant rebound: +10% for the first half of 2024. A positive signal for the West African country which dreams of becoming a power plant oil in the sub-region.
With our correspondent in Accra, Victor Cariou
Over the past five years, the annual decline in crude oil production in Ghana has been -9.2%. The 10% increase, announced by the semi-annual report of the Public Interest Responsibility Committee (PIAC), therefore marks the end of a cycle. It was notably made possible by a new discovery, in 2023, in Ghana's first offshore deposit, the Jubilee Fields.
Overall, nearly 25 million barrels left Ghanaian platforms between January and June 2024, a boon for the Ghana which, in August of the same year, announced with great fanfare a pharaonic project: the Petroleum Hub, a mega power plant which would be capable of refining more than 900,000 barrels of oil per day by 2036.
However, it is not certain that this recent increase in crude oil production alone will be enough to supply the future Ghanaian refinery, especially since this increase is not uniform. The committee's report points to a drop in yields in two strategic fields in the country, a dynamic which would ultimately threaten Ghana's overall oil production.
Read more on RFI
