Ghana is hoping to produce about 242.3 million barrels of oil in 2018 from 39.1 million barrels this year, Finance Minister Seth Terkper has said.

Speaking at a public forum on Ghana’s debt stock, Terkper said the government is focusing on improving the energy sector in a bid to save the economy.

According to him, Ghana is aiming at producing 37 billion cubic feet of gas this year in a move to turn gas into power domestically.

He was optimistic that the ailing economy will resuscitate in the coming months due to policies and measures adopted by the John Mahama-led administration.

"It is either we discipline ourselves or dissipate the opportunities that will arise when the economy shows any gain," Terpker said.