(Ecofin Agency) - Ghana's oil production is expected to reach 110,000 bpd in 2016, as output is being increased at Tullow Oil's Jubilee field, a senior government official revealed.

According to the Chief Director at the Ministry of Petroleum, Thomas Mba Akabzaa, output at the Jubilee field was halted at the beginning of 2016, as a result of a technical problems but was resumed in May at 30,000 bpd.

He added that first oil at the new Tullow operated TEN offshore field was expected on August 17 and four companies in search of oil in the Tano Basin had lost their exploration licences after they were unable to meet the basic requirements.

“In Ghana, at the end of 2015, (several) new petroleum agreements were signed. However, as I speak about 80 percent are yet to meet 20 percent of their work program requirements for 2015 largely as a result of the difficulty in raising the required funding,” he said.

The decline in the prices of crude globally has made oil companies fall back on projects and reduce work force.

Ghanaian government’s discussions with Tullow assisted in save 100 jobs in the petroleum industry, after the company had initially selected 130 jobs to be cut, Energy-pedia reports.

Anita Fatunji