Investment Times

When industry players in Ghana’s energy sector recently gathered under the guidance of the Public Interest and Accountability Committee (PIAC), the stunted nature of the country’s oil production dominated the conversation. The nation’s crude oil output has been steadily falling since its peak in 2019 when production hit 71.4 million barrels. Fast forward to 2023, and that number dropped to 48.25 million barrels—an annual average decline of close to 10%. This decline, while troubling, is not entirely unexpected. With no new fields coming on-stream since this peak, output from the sector has been challenged. The Jubilee field, Ghana’s first major...