Ghana Energy

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Ghana’s leap into the ranks of oil-producing countries happened in record time, taking just 42 months from discovery to production. That speed brought with it complications that have necessitated a revision of forecast output. However, the bulk of those hiccups appear to have passed and the outlook for 2013 is looking encouraging, with the flagship Jubilee field set to hit maximum targeted production and new commercial discoveries about to come online.

Located on Africa’s western coast, Ghana is home to 24m people and a variety of ethnic groups. The country is divided into 10 administrative regions and has a strong executive branch, a unicameral legislature made up of 230 members, and an independent judiciary.

Chapter | Energy from The Report: Ghana 2012

Since the discovery of offshore oil reserves in 2007, the Ghanaian government has reached a number of important decisions regarding production and distribution, and set the aim of reaching production in just 42 months. Crude oil output accounted for 6.8% of GDP in 2011, the first year of hydrocarbons production, and production is expected to be increased to 120,000 barrels per day by mid-2013....

While the government has been exporting its share of the country’s oil, demand at home continues to increase. With erratic and restricted refinery capacity hampering delivery to the domestic market, the cost of meeting this demand is becoming an increasing burden.

One of the most important and often heated debates in the energy sector centres on the revenue agreements between the government and operators. While the contracts for the partners at the Jubilee Field were drawn up as far back as 2005, there is an increasing belief in the media and among local think tanks that Ghana should be getting more from its...

The issue of electricity generation is once again creeping towards the top of the government’s agenda. With plans for rapid economic and industrial growth fuelled by hydrocarbons production, the burden on the country’s grid is likely to increase substantially over the coming years. As such, the moves toward privatisation which occurred in response...

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