The Executive Director of the Centre for Environmental Management and Sustainable Energy, Benjamin Nsiah, has underscored the economic potential of Tullow Ghana’s latest drilling campaign, stating that the move could significantly enhance Ghana’s upstream oil revenues and reverse the country’s declining production trend.
“We should be hopeful that after drilling and appraising these wells, we find commercially viable reserves,” he said in an interview with Citi Business News. “If that happens, our output will increase, and since our revenues depend on both production levels and global market prices, this could significantly boost Ghana’s upstream revenue.”
Nsiah also raised concerns about the sector’s performance over the past five years, describing it as underwhelming.
“Production has been declining over the last five years. Currently, we’re producing about 48 million barrels per year, compared to over 70 million barrels previously,” he noted. “This shows that the upstream sector is underperforming. Initiatives like Tullow’s drilling program are vital, not just for boosting production, but also for attracting more foreign direct investment.”
His comments come as Tullow Ghana and its partners announce the restart of drilling operations in the Jubilee Field, a move that has been widely welcomed by stakeholders in Ghana’s energy space.
The newly launched two-year campaign began in May 2025 and is aimed at ramping up oil production and improving operational efficiency in one of West Africa’s key oil-producing fields. The campaign will be rolled out in phases, with additional drilling activity planned for November and into 2026.
This follows the successful completion of Tullow’s previous four-year drilling programme in December 2024, which delivered 18 new wells, six months ahead of schedule and under budget. The earlier programme was widely praised for its high safety standards, disciplined cost control, and overall operational excellence.
Managing Director of Tullow Ghana, Jean-Médard Madama, expressed strong confidence in the project’s long-term potential.
“This is an exciting moment for us. The restart of drilling reflects another milestone in our journey in Ghana and shows our confidence in the country’s resource base,” he said. “Even as the field matures, we are confident in its capacity to deliver value, for our shareholders, partners, and the people of Ghana.”
In preparation for this new phase, Tullow recently completed a 16-day maintenance exercise at the Jubilee Field to upgrade systems and minimize risks ahead of drilling operations.
With the Jubilee Field still considered a vital pillar of Ghana’s oil production and revenue generation, the ongoing investments by Tullow are expected to not only stabilize output but also attract fresh capital into the sector at a time when the country is working to strengthen its economic recovery.
