The Ghanaian Government has announced plans to produce 240,000bpd and 240,000 million standard cubic feet of gas per day under the second phase of the Jubilee field project.

Deputy Minister of Energy Dr Kwabena Donkor told local reporters that the country plans to increase production starting in 2013.

The Jubilee field project is in the first phase of production and is set to produce 120,000 barrels of oil and 120,000 million standard cubic feet of dry gas per day in 2010, Donkor said.

The Jubilee Field contains expected recoverable reserves of about 800 million barrels of light crude, with an upside potential of about three billion barrels, Donkor added.

The Jubilee oilfield has been described by operator Tullow Oil as a world-class reservoir. The field is under development for start-up in October next year.