Ghana earns 337.3 million dollars from oil

The Minister of Energy, Dr Oteng Adjei has revealed that total crude oil production from the Jubilee offshore field between January and September 2011 amounted to 16.7 million barrels, with Ghana earning 337.3 million dollars from its first three lifting’s of 2.98 million barrels.

He said Government is commitment to ensure the judicious use of the revenue to be generated from Ghana’s fledgling oil and gas sector to the benefit of the citizenry.
But stated that stakeholders have to play their part to improve the sector for government to achieve its agenda of accelerated and sustainable economic development.
Dr Oteng-Adjei said interest in Ghana’s oil and gas was growing and becoming more competitive, thus placing Ghana in the right stead to negotiate for better fiscal terms and petroleum agreements that preserved national interest.

He said that currently, 13 different petroleum operations were being undertaken along the country’s shorelines at different stages of exploration and development, demonstrating government’s commitment to streamlining and accelerating the process of acquisition of blocks and to speedily increase Ghana’s oil and gas resources.