Ghana's Upstream Sector Faces Decline and Depletion Threats
Ghana's upstream petroleum sector is facing significant challenges due to declining oil production and dwindling reserves, according to Minister for Energy and Green Transition Dr. John Abdulai Jinapor.
The minister noted that while Ghana's petroleum reserves remain above the targeted levels, the trend is worrying and requires urgent action to ensure new discoveries and developments replace the barrels being produced.
To address this issue, the government will work with the Ghana National Petroleum Corporation (GNPC), the Petroleum Commission, and industry operators to accelerate field development, appraisal, and exploration. They also aim to improve regulatory approvals and address infrastructure bottlenecks.
The minister emphasized the need for a deliberate shift in the country's approach to exploration and upstream investment to strengthen its reserves replacement strategy.