Ghana's 2013 petroleum revenues expected to grow to USD581m

(MENAFN) Ghana's Director of the Real Sector Division of the Ministry of Finance, Idrissu Alhassan, stated that in 2013, the country's oil revenues are forecasted to reach USD581 million, reported Xinhua News. The expected revenue is up from the USD541.07 million recorded last year. Alhassan said that this year's estimated revenue is based on an oil output of 83.341 barrels per day (bpd), and an average crude oil price of USD94.36 a barrel. He added that the revenues would be allocated for the expenditure and amortization of loans for oil and gas infrastructure, road and other infrastructure, agricultural modernization, in addition to capacity building, including oil and gas. It is worth noting that Ghana's Jubilee field's oil output stands at around 115 bpd at the current time.