Ghana’s crude oil output slumped by 25.92 percent year-on-year in the first half of 2025, raising concerns about declining petroleum revenue inflows and energy sector sustainability, the Public Interest and Accountability Committee (PIAC) has revealed.
According to PIAC’s 2025 Semi-Annual Report on the management and use of petroleum revenues, total crude production from the country’s three offshore fields, Jubilee, TEN, and Sankofa-Gye Nyame (SGN) dropped to 18.42 million barrels from 24.86 million barrels in the same period of 2024.
The Committee attributed the decline mainly to operational shutdowns, reservoir depletion, and maintenance activities across all producing assets, warning that sustained output losses could undermine fiscal projections tied to oil revenues.
The Jubilee Field, Ghana’s flagship offshore asset operated by Tullow Oil, saw production plummet by 32.8 percent, falling from 16.41 million barrels in H1 2024 to 11.02 million barrels in H1 2025.
Average daily production decreased from 90,755 barrels per day (bbl/d) to 60,898 bbl/d during the review period.
PIAC explained that a planned shutdown between March 26 and April 8, 2025, coupled with extended maintenance work, limited output.
The field’s highest monthly production was recorded in January (2.40 million barrels), while April (1.27 million barrels) marked the lowest.
The Tweneboa-Enyenra-Ntomme (TEN) Field recorded a 14.0 percent decline in production, dropping from 3.45 million barrels in H1 2024 to 2.97 million barrels in H1 2025.
Daily output also fell from 19,065 bbl/d to 16,420 bbl/d, driven by a flare tip replacement shutdown and ongoing reservoir performance challenges.
The Sankofa-Gye Nyame (SGN) Field, operated by ENI, recorded a milder 11.6 percent drop, with output decreasing from 5.00 million barrels in H1 2024 to 4.42 million barrels in H1 2025.
Average daily production dipped from 27,600 bbl/d to 24,463 bbl/d, due to intermittent operational disruptions and reservoir management constraints.
PIAC cautioned that the persistent decline in output threatens Ghana’s petroleum revenue outlook, particularly as the government continues to rely on oil proceeds for budget financing, debt servicing, and infrastructure funding.
“Addressing operational inefficiencies and investing in reservoir maintenance are critical to sustaining production levels,” the Committee stated, urging collaboration between the Ministry of Energy, Ghana National Petroleum Corporation (GNPC), and international operators to stabilize the sector.
However, the trend underscores the need for new field developments, improved asset optimization, and a clear petroleum investment strategy to sustain output beyond 2026.
Meanwhile, as global oil prices remain volatile, Ghana’s production challenges could further strain foreign exchange inflows and energy security, reinforcing calls for diversification into gas development and renewable energy investments.
