Hydrocarbon and Mining

Question:

How is hydrocarbon and mining in Ghana?

 

Answer:

Ghana has 5 billion barrels (790×106 m3) to 7 billion barrels (1.1×109 m3) of petroleum in reserves and a large oilfield which contains up to 3 billion barrels (480×106 m3) of sweet crude oil.was discovered in 2007. Oil exploration is ongoing and, the amount of oil continues to increase. Ghana produces crude oil, as of 15 December 2010, and until June 2011, Ghana exploited around 120,000 barrels per day and is expected to increase production up to 2.5 million barrels per day in 2014. Ghana produces gas and has vast natural gas reserves, which is used by many foreign multinational companies operating in Ghana.

Mining in Ghana has gained importance in the Ghanaian economy since the turn of the 21st century, with a growth of around 30% in 2007; main mining extractions are bauxite, gold (Ghana is one of the largest gold producers in the world), and the phosphates.

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