Which oil field in Ghana produces the most oil in 2022?
As of 2022, the Jubilee field was the leading oil field in Ghana in terms of output. That year, it produced approximately 30.5 million barrels of oil. This was followed by the Offshore Cape Three Points (OCTP) field – comprising the Sankofa and Gye Nyame fields, with a generated oil volume of around 12.6 million barrels.
What role does Ghana play in the African oil industry?
Ghana plays an important role in the African oil industry. In 2020, the country produced crude oil amounting to over 173,000 barrels per day. Due to ongoing developments in offshore resources, Ghana’s Ministry of Energy expects production to reach 500,000 barrels per day by 2024.
Does Ghana export oil?
Most of the higher-quality oil produced by these three fields is exported, while Ghana imports crude for power production and other purposes. In 2017 some 57m barrels were exported – around 97% of total production – with the remainder used for electricity generation or sent to Tema Oil Refinery.
Which companies sell oil in Ghana?
At the domestic retail end of the supply chain, oil marketing companies include Total, Shell’s Vivo, Engen, Puma, Top Oil, Santol Energy and PetroSankofa. Ghana is a member of ECOWAS, which has established harmonised specifications for automotive fuels.