by: michael eli dokosi/www.blakkpepper.com/ghana
President Akufo-Addo is optimistic the country could be producing 1million barrels of crude oil per day in the long term.
He said global oil exploration firms British Petroleum (BP) and Total have expressed interest in drilling oil in the country showing his government’s prudent management of the economy is attracting investors.
Ghana currently produces 100,000 barrels a day and has a medium projection of 500,000 a day scaling up to 1,000,000 barrels a day in the long term.
The president stated at his second and final ‘meet the press’ for the year on December 19 that the key themes of his government; effective revenue mobilisation, infrastructure drive, boosting entrepreneurship and agriculture modernisation have all stabilised the economy adding the fundamentals are solid depicted by inflation drop, growth in credit to private business, easing of interest rates as well interbank trading rates getting down.
Oil and gas exploration companies in the country include Tullow Oil Plc, ExxonMobil, Harlequin International (Ghana), Kosmos and Anadarko.