Accra, April 8, – The Public Interest Accountability Committee (PIAC) has urged government to develop a stronger investment framework to support existing oil fields, following continued declines in Ghana’s crude oil production.
The Committee also called for reforms in regulatory and fiscal systems, alongside enhanced data acquisition in emerging basins, as the country records its sixth consecutive annual drop in crude output.
Speaking at the launch of PIAC’s 2025 Annual Report on the Use and Management of Petroleum Revenue in Accra, Chairperson Mr Richard Ellimah said the trend pointed to a sustained downturn in production.
He noted that output had fallen from 71.44 million barrels in 2019 to 37.3 million barrels in 2025, reflecting a compounded annual average decline of about nine per cent.
“Production has dropped… confirming the widely held view that Ghana’s oil fields have peaked and are on a downward spiral,” he said.
Mr Ellimah further disclosed that production declined by 22 per cent in 2025 compared to 48.2 million barrels recorded in 2024.
According to the report, the Jubilee Field produced 22,211,948 barrels, the SGN Field recorded 9,256,418 barrels, and the TEN Field produced 5,834,432 barrels.
He explained that Jubilee Field output dropped by 30.3 per cent, falling from 31,849,046 barrels in 2024 to 22,211,948 barrels in 2025.
The TEN Field also recorded a 14 per cent decline, while SGN output fell marginally by 3.6 per cent over the same period.
The report attributed the overall downturn to natural depletion of mature fields, maintenance activities, and operational disruptions, including works by WAPCo.
It added that average daily production stood at 63,462 barrels for Jubilee, 16,206 barrels for TEN, and 25,360 barrels for SGN.
On natural gas, the report indicated a decline in total output to 273,780 million standard cubic feet (MMSCF) in 2025, down from 280,511 MMSCF in 2024, representing a 2.4 per cent decrease.
PIAC cautioned that without renewed investment and stronger policy direction, Ghana risks further declines in its petroleum revenue base.
GHBUSS
8 April 2026
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