• VIDEOS
  • About
  • Contact
  • Despite Media
Ghana Election 2020
  • Home
  • Election 2020 Results
  • Local News
  • Politics
  • Showbiz
  • Sports
  • Business
  • Opinion
  • VIDEOS
  • Media
    • Videos
    • Audio
    • Photos
Local News
 
 
 
Home Business Economy 201209

Oil Find Has Been Very Productive - Prez Mahama

25-Sep-2012
/ Economy, Business
Email
Print
Comments 0
(0)
Comments
Share on Facebook Share on Twitter
 

President Mahama has told members of Investment group Renaissance Capital in the US that the prospects of Ghana’s oil and gas industry are very good for foreign direct investors.

President Mahama is attending the 67th session of the UN General Assembly meeting in New York.

He told investors that despite few challenges confronting the jubilee field from achieving its projected 120,000 barrels of oil daily, the field has nonetheless been very productive.

“Ghana has made significant discoveries of oil and gas and continues to make discoveries every day. The most recent being a week or two ago… It takes time to appraise these wells and bring them on stream but we have a string of developments that will start to get into the phase of development towards production before the end of the year.”

He said the no flair policy on the gas is affecting the total production and that until the government is ready to refine the gas, it will have to keep producing at a lower rate.
He said “the prospects in oil and gas look very good; very, very good. There is more exploration taking place and a lot of it have been to the Western part offshore but there is a lot exploration beginning to start on the Eastern sea border in Ghana.”

He however says because the water on the Eastern border is deeper, it will cost a lot more to explore.

'5,000 megawatts by 2015'

President Mahama also said Ghana’s power sector is undergoing changes which make the country an attractive destination for foreign direct investments. He said government is looking to rump up power generation to 5,000 megawatts by 2015.

He said Ghana significant advantage in the production of power due to the strategically positioned Akosombo Dam. He indicated that government is looking at partnering private organisations to find ways to increase the power generation due to the demands.

President Mahama said the demand for power supply internally is increasing and that government is exploring avenues to continue supply its neighbours – Togo, Benin and Burkina Faso – with power.

 

 
 

 

Comments ( 0 ): Post Your Comments >>

Disclaimer: Opinions expressed here are those of the writers and do not reflect those of Peacefmonline.com. Peacefmonline.com accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority.
Featured Video
Previous Post

Ghana's Economy Chalks 14.4%

Next Post

Producer Price Inflation Falls To 16.6 Percent In August

 
 

More Stories

Ghana To Face Serious Economic Challenges This Year —Kenneth Thompson
Less Than 2 Million Ghanaians Pay Tax
126 Private Schools Fold Up Over COVID-19
COPEC Predicts 5% Increase In Fuel Prices
Africa Seeks Debt Cancellation, New Paradigm In World Economic Order
EU’s Money Laundering List: Govt Takes Action Towards Country’s Exit In 2021
Gov’t To Hold Nation Building Updates On Rebuilding Of Economy
Parliament Passes Petroleum Hub Bill
GIPC Quarterly Investment Report Holds Good Prospects For Ghana
Next Post

Producer Price Inflation Falls To 16.6 Percent In August

  Ghana Business News

  • General News
  • Economy
  • Banking & Finance
  • Stock Market
  • Industry/Manufacturing


 
 

Other Economy Stories

  • Ghana To Face Serious Economic Challenges This Year —Kenneth Thompson

  • Less Than 2 Million Ghanaians Pay Tax

  • 126 Private Schools Fold Up Over COVID-19

  • COPEC Predicts 5% Increase In Fuel Prices

  • Africa Seeks Debt Cancellation, New Paradigm In World Economic Order

  • EU’s Money Laundering List: Govt Takes Action Towards Country’s Exit In 2021

  • Gov’t To Hold Nation Building Updates On Rebuilding Of Economy

  • Parliament Passes Petroleum Hub Bill

  • GIPC Quarterly Investment Report Holds Good Prospects For Ghana

  • Gov't Revives Affordable Housing Scheme

 

 
 

Popular Videos

Election Petition: Maurice Ampaw’s Reaction

NDC Makes Another Mistake In Their Corrected Petition – Nana B

Provision Of PPEs: You Can Close Down Schools...But Leave Us Out - Private Schools To GES

Mahama Doesn’t Believe He Won The Election; I Know Him - Kabila

Election Petition: Respect The Ruling Of The Supreme Court - MP To NDC

I Hope You’ll Not Accuse Supreme Court Judges Of Unfairness - Kabila To Mahama

Peace FM Online and Despite Media

peacefmonline.com offers its reading audience with a comprehensive online source for up-to-the-minute news about politics, business, entertainment and other issues in Ghana

Follow us on social media:

Category

  • Home
  • Local News
  • Politics
  • Showbiz
  • Sports
  • Business
  • Opinion
  • Trivia
  • Foreign
  • Audio
  • Photos
  • Videos
  • Elections
Decision Time
Ghana Election 2020 2016 Elections
Services
Online Radio Audio on Demand Ghana Elections Advertise with Us
Useful Links
Despite Media About Us Contact Us Feedback Form Terms and Conditions Privacy
Our Brands
Despite Media UTV Peace FM Okay FM Hello FM Neat FM Peacefmonline
  • About
  • Advertise
  • Terms & Conditions
  • Contact
  • Privacy

© 2020 Peacefmonline.com - An online portal owned and managed by Despite Media

  • Home
  • Local News
  • Politics
  • Showbiz
  • Sports
  • Business
  • Articles
  • Trivia
  • Foreign
  • Photos
  • Videos
  • Audio
  • Election 2020

© 2020 Peacefmonline.com - An online portal owned and managed by Despite Media