Finance Minister: Ghana’s oil production to rise six-fold by 2018

Finance Minister of Ghana, Seth Terkper.

Finance Minister of Ghana, Seth Terkper.

22 May 2015, Accra – Ghana’s oil production will rise six-fold by 2018 to an estimated 242.3 million barrels from 39.1 million barrels this year as new fields start production, Finance Minister Seth Terkper said on Wednesday.

Terkper said the West African country was also forecast to produce 37 billion cubic feet of gas this year, adding that the government’s objective was to add value to its energy production by turning gas into power domestically.

He forecast that medium-term economic growth would rebound to 8-9 percent a year.
*Kwasi Kpodo; Daniel Flynn; Bate Felix – Reuters

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