• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business Energy

Ghana: Crude oil production falls for second consecutive year

4 years ago
in Energy, highlights, Home, home-news, latest News
2 min read
0 0
0
110
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Ghana: Crude oil production falls for second consecutive year

A total of 27,767,859 barrels (bbls) of crude oil was produced by the country in the first half of 2021 from its three offshore producing fields – Jubilee, TEN, and SGN.

The total crude oil production recorded for half 0f 2021 represents an 18.9 percent reduction from the first half of 2020 production volume of 34,236,596.97 barrels (bbls) and the second consecutive reduction in year-on-year (y-o-y) crude oil production volumes since inception in 2011.

The decrease in production, according to the Public Interest and Accountability Committee (PIAC) semi-annual report, was a result of reduced production on all the three producing fields, recording a decline of 17, 27.9 and 13.2 percent on the Jubilee, TEN and SGN Fields respectively.

Monthly production figures for the three Fields

Jubilee production declined from 15,406,903 bbls in the first half (H1) of 2020 to 12,781,327 in H1 2021 (17%). Average daily production in the Jubilee Field in H1 2021
was 70,615 bbls compared to 84,723 bbls in H1 2020, representing a decrease of 16.65 percent.

January 2021 recorded the highest monthly oil production volume of 2,255,226 bbls while February 2021 recorded the least monthly output of 1,975,758 bbls.

TEN production declined from 9,266,872 bbls in H1 2020 to 6,684,265 bbls in H1 2021 (27.9%). The average daily production of 36,930 bbls in the TEN Field in H1 2021, was a 27.5 percent reduction compared to the 50,916 bbls in H1 2020.

RelatedPosts

Multichoice Rebuffs Minister’s Claim On DSTV Price Cuts, Cites Market Conditions

MTN Nigeria Now the Most Capitalized Stock in Nigeria

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

Read This: Inflation rate to start declining in 2022; to fall to 6.8% in 2023

SGN production declined from 9,562,822.00 bbls in H1 2020 to 8,302,267.00bbls in H1 2021 (13.2%). Average daily production reduced from 52,543 bbls to 45,875 bbls during the period (12.69%).

The decline, according to ENI, was attributable to Gas-oil Ratio (GOR) increase and the increased impairment (scale build-up) around the near-wellbore areas in some of the oil producers. Consequently, acid stimulation activity was carried out to restore productivity in the affected wells.

Cumulatively, the volume of crude oil produced in Ghana since first oil in December 2010, totals 481,155,558 bbls as at the end of June 2021.

Meanwhile, cumulative raw gas production for H1 2021 was 127,496.04 million standard cubic feet (MMscf).

This represents a 9.56 percent increase over the volume of 116,373.39 MMscf produced for the same period in 2020, and the highest recorded half-year volume since 2014.

Production from Jubilee, TEN and SGN Fields increased by 10.6, 12.8 and 7.42 percent respectively.

Source: norvanreports
Tags: Covid-19ghanaGhana: Crude oil production falls for second consecutive year
No Result
View All Result

Highlights

OPEC+ Nears Decision Point on Next Oil Output Hike

Europe’s Energy Future Hinges on Global Powers

US Companies Cut Investments in China to Record Lows, Here’s Why

How AI is Rewriting and Enhancing Water Risk Management

SheFarms Broiler Edition Kicks Off in Greater Accra

PharmAccess Ghana, Healthcare Federation of Ghana sign SafeCare License Agreement; to use Newest ISQua-Certified Version 5

Trending

Business

Multichoice Rebuffs Minister’s Claim On DSTV Price Cuts, Cites Market Conditions

August 3, 2025

Multichoice Rebuffs Minister's Claim On DSTV Price Cuts, Cites Market Conditions MultiChoice Ghana has pushed back against...

MTN Nigeria Now the Most Capitalized Stock in Nigeria

August 3, 2025

Nigerian Stock Market Creates Largest Pool of Billion-Dollar Stocks in 2025

August 3, 2025

OPEC+ Nears Decision Point on Next Oil Output Hike

August 3, 2025

Europe’s Energy Future Hinges on Global Powers

August 3, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.