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, Tweneboa, Enyenra, Ntomme (TEN), and the Sankofa Gye Nyame (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.

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%.

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 productions 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% reduction compared to the 50,916 bbls in H1 2020.

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

READ ALSO: Eni Discovers Oil In Ghana’s OCTP Block 4

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