Ghana’s upstream petroleum sector is set for a massive shake-up as the Ministry of Energy and Green Transition has inaugurated a Legislative Review Committee (LRC-UPS) to overhaul the legal and regulatory framework governing oil and gas exploration and production.
The sector is currently guided by the Petroleum (Exploration and Production) Act, 2016 (Act 919) and associated regulations. However, the government has identified the need for urgent reforms in the regulatory framework to make it fit-for-purpose, address new industry realities, and maximize benefits for Ghanaians.
Why the Review Matters
The review is expected to strengthen Ghana’s competitiveness, attract sustainable investment, and align petroleum operations with the country’s national development goals, including the energy transition agenda.
Sources tell The High Street Journal that the review will encompass areas such as gaps in licensing, fiscal arrangements, local content participation, and environmental oversight, and the sector’s ability to fully deliver economic value.
The Committee’s Mandate
Co-chaired by energy expert Nana Boakye Asafu-Adjaye and former Minister for Power, Dr. Kwabena Donkor, the 15-member committee brings together representatives from the Ministry of Energy, Petroleum Commission, GNPC, Ghana Upstream Chamber, Ghana Gas, Ministry of Finance, Bank of Ghana, EPA, and the Attorney General’s Department.
They are expected to deliver an inception report within one week, a draft report in two and a half months, and a final set of legislative recommendations by December 10, 2025.
Expected Outcomes
The legislative review could redefine how the country manages its petroleum wealth in the face of global energy transition pressures and increasing demand for accountability. Stakeholders have long argued the sector needs robust reforms.
Without making the overhaul, Ghana risks losing investment competitiveness, undermining revenue collection, and missing out on deeper local participation.
The move signals government’s acknowledgment that the oil and gas sector must evolve beyond short-term extraction into a framework that balances investment, transparency, local empowerment, and sustainability.
