Agyarko stated this on Tuesday at the Nigerian Annual International Conference and Exhibition organised by the Society of Petroleum Engineers in Lagos, where he was represented by the acting Chief Executive Officer, Petroleum Commission, Ghana, Mr. Theophilus Ahwireng.
He put Ghana’s current oil and gas production at 190,000 barrels a day and 120 million standard cubic feet per day, respectively.
The minister said, “One area that we have moved on very quickly has been gas monetisation. All the three developments we have currently have either some associated gas or their own gas. What we have done in the last few years has been to connect the pipeline infrastructure for these three developments.
“So, by the middle of next year, the gas pipeline infrastructure from Jubilee, TEN (Tweneboa, Enyenra and Ntomme) and the Offshore Cape Three Points will all be connected to provide a basis for security of supply; to prevent us from venting or flaring gas, and be efficient in terms of conserving the resource.”
Agyarko explained that Ghana was looking to monetise all the 300 million scf of gas that it would be producing for power generation.
“Ghana used to have a 100 per cent dependence on hydro, but we are currently in the region of about 50/50 in terms of hydro and gas,” he said.
According to him, the gas comes from fields in Ghana and, to a smaller extent, the West African Gas Pipeline.