Ghana Pins Hopes on Reversing Declining Oil Production

The Ghanaian government has identified reversing the decline in oil production and increasing gas supply for domestic consumption as top priorities for the upstream petroleum sector. According to Energy and Green Transition Minister Dr. John Abdulai Jinapor, the government is implementing policy, regulatory, and infrastructure interventions to restore investor confidence.

The goal is to create a more attractive environment for investment in the sector by reviewing Ghana's upstream legal and regulatory framework. This move aims to make the sector more competitive and attractive to investors.

Increasing gas supply for domestic consumption, particularly for power generation, would be critical to improving energy security and reducing Ghana's dependence on imported natural gas and other energy products. The government's objective is to maximise the value of oil and gas produced in Ghana by processing and utilising more of its resources domestically.