Ghana’s crude oil production has risen by about 30% to an average of roughly 120,000 barrels per day, reversing five years of decline, Minister for Energy and Green Transition Dr. John Abdulai Jinapor said.
Speaking during a fireside chat at African Energy Week in Cape Town, South Africa, Jinapor attributed the recovery to government efforts to secure investment and approve new development plans.
The event which runs from Oct. 12 to 16, has brought together policy makers, investors, energy professionals, researchers and ministers.
“We have seen a continued systematic decline in oil output over the past five years. But this year, I am happy to announce that oil production has increased by about 30%,” he said.
Jinapor said an investment agreement had translated into an approved development plan, with work under way.
Production figures for Ghana’s three producing fields showed mixed results between June 2025 and June 2026.
Average daily output from the Jubilee field rose to 76,032.27 barrels in June 2026 from 60,898 barrels a year earlier.
Production at the TEN fields fell to 14,535.90 barrels per day from 16,420, while output from Sankofa-Gye Nyame increased to 25,257.89 barrels per day from 24,463.
In September, Jubilee produced an average of 75,402.97 barrels per day, while TEN and Sankofa-Gye Nyame produced 14,704.02 and 27,517 barrels per day, respectively.
The recovery follows a $2 billion memorandum of understanding signed with Jubilee partner Kosmos Energy in 2025.
The agreement, covering extensions of the Jubilee and TEN licences to 2040, paved the way for further investment and increased supplies of affordable gas for domestic power generation.
An amended Jubilee development plan provides for up to 20 additional wells.
In its August results, Kosmos said the Jubilee partnership was seeking a rig for a drilling campaign of up to 10 wells in 2027–2028, expected to begin in mid-2027.
The company also maintained its 2026 group capital expenditure budget at $350 million as it seeks to increase production, control costs and reduce debt.
Jinapor said the government was working to establish a more competitive, predictable and business-friendly environment while protecting Ghana’s national interests.
“These efforts are yielding encouraging results, with significant investment commitments, including US$3.5 billion towards expanding operations and drilling new wells, alongside positive developments in crude oil production.
“Our focus is to sustain this momentum, strengthen local participation and deepen domestic value addition by refining more of our crude locally to support industry, create jobs and enhance energy security.”
Speaking alongside Jinapor, Kosmos Chief Executive Andy Inglis said the licence extensions had given the company greater confidence to invest, particularly in technology.
The agreement also allowed Kosmos to focus on gas supplies, he said.
“As we deal with energy security, it also comes down to energy affordability. We agreed to supply low-cost gas to the country,” Inglis said.
Jinapor said Ghana was seeking to attract further upstream investment by improving commercial terms and building trust with operators.
“We are trying to make the sector more attractive and mutually beneficial,” he said, adding that the government was engaging with Chevron, Shell and CNOOC.
He said proposed fiscal reforms had received his approval and that of the finance minister and would be submitted to cabinet the following week before going to parliament.
“We will sign the agreement with Chevron once we have received parliamentary approval,” Jinapor said.
He added that Ghana had held discussions with Petrobras and was seeking to conclude a deal.
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