PIAC calls for urgent investment strategy as Ghana’s Oil production declines

The Public Interest Accountability Committee has called on government to establish a comprehensive framework to attract investment into existing oil fields, as Ghana continues to experience a steady drop in crude production.

The Committee also urged authorities to strengthen regulatory and fiscal systems and intensify data collection in new exploration basins following the country’s sixth consecutive decline in oil output in 2025.

Speaking at the launch of the 2025 Annual Report on the Use and Management of Petroleum Revenue in Accra, PIAC Chairman Richard Ellimah warned that production levels continue to fall at an alarming rate.

“Production has dropped from a high of 71.44 million barrels in 2019 to 37.3 million barrels in 2025, representing a compounded annual average decline of nine percent. This confirms the widely held view that Ghana's oil fields have peaked and are on a downward spiral,” he said.

Mr Ellimah further disclosed that output fell by 22 percent in 2025 compared to the 48.2 million barrels recorded in 2024.

According to the report, the Jubilee Field produced 22,211,948 barrels in 2025, while the SGN Field recorded 9,256,418 barrels and the TEN Field accounted for 5,834,432 barrels.

Production at the Jubilee Field saw a sharp decline of 30.3 percent, dropping from 31,849,046 barrels in 2024 to 22,211,948 barrels in 2025. Output from the TEN Field also decreased by 14 percent, falling from 6,784,440 barrels to 5,834,432 barrels over the same period. The SGN Field recorded a more moderate decline of 3.6 percent, dropping from 9,606,544 barrels in 2024 to 9,256,418 barrels in 2025.

The report attributed the sustained decline to natural depletion of the fields, ongoing maintenance works, and operational disruptions, including activities linked to the West African Gas Pipeline Company.

Average daily production figures stood at 63,462 barrels for Jubilee, 16,206 barrels for TEN, and 25,360 barrels for SGN.

On the gas front, total output also declined, falling to 273,780 million standard cubic feet in 2025 from 280,511 million standard cubic feet in 2024, representing a 2.4 percent decrease.