Ghana targets 242m barrels of oil in 2018

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.