The Ghanaian government has said it will invest about 20 billion dollars to develop new oil discoveries in the next five years.

According to source, Emmanuel Kofi-Buah, the Energy Minister, while speaking at the inauguration of a Ghanaian oil and gas publication, `The Oil and Gas Year’ said that the government’s intention for such level of investment was to boost oil and gas production as well as the economy.

He said that the construction of a gas processing plant at Atuabo in the western region had been scheduled to be completed in 2014.

The Minister said “The completion of the plant is expected to make enormous contribution to the country’s energy capacity’’.

“Government expects Ghanaians to support the efforts of government to put the economy on a viable position in the interest of the citizenry.’’

He also said that the John Mahama-led government remained committed towards developing the petroleum sector in order to boost the financial fortunes of the country.

Ghana’s Jubilee Oilfield containing about three billion barrels of sweet crude oil was discovered in 2007, among many other oilfields in the country’s southern region.

According to Tullow’s Oil Plc projection, Ghana currently produces about 110,000 barrels of oil daily.