Crude oil production in Ghana declined for the sixth consecutive year in 2025, according to the 2025 annual report issued by the Public Interest and Accountability (PIAC) on the petroleum fund utilization. His comments come on the back of this report.
This represents a compounded annual average decline of nine per cent. Production has dropped from a high of 71.44 million barrels in 2019 to 37.3 million barrels in 2025, PIAC said.
The Energy Minister, Dr Jinapor, said that “We have secured over US$3.5 billion in upstream oil and gas investment commitments, resumed major drilling activities, and expect crude oil production to increase for the first time in almost six years.” Speaking at the Ghana-UK Investment Summit 2026, he made these remarks.
Through the National Energy Policy and Energy Transition Framework, he said they are maximizing domestic oil and gas resources while expanding renewable energy and advancing plans for nuclear power. He reaffirmed the government’s commitment to a secure, affordable, reliable, and sustainable energy system.
“I also highlighted investment opportunities in gas infrastructure, gas-to-power projects, renewable energy, power sector modernisation and upstream petroleum; key pillars of our vision to position Ghana as a regional energy hub and drive industrial transformation.”
“With restored confidence, a stable policy environment, ongoing reforms, and a commitment to private-sector-led growth, Ghana is open for business and ready to deliver long-term value and shared prosperity,” he wrote on Facebook after the event. “I concluded by inviting investors to partner with Ghana at this pivotal moment.”
