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Oil and Gas production project estimated Seven billion dollar

Government on Tuesday took two major steps towards the development and production of oil and gas from Cape Three Points and the General Electric (GE), Ghana one thousand megawatts project.

The Seven billion dollar oil and gas development and production project is estimated to produce one hundred and thirty one million barrels of crude and one point one five trillion cubic feet of gas.

The first phase of the GE project to generate seven hundred and fifty megawatts of electricity will be ready in the last quarter of 2016 to be followed by another five hundred megawatts.

Speaking at the two programmes, President John Dramani Mahama hinted that the government has also signed a number of memoranda of understanding for energy generation.

He said the aim of the government is to position Ghana to become the energy of hub of Africa.

Source: GBC

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