John Abdulai Jinapor announces 30% surge in Ghana's crude oil production

Ghana’s crude oil production has recorded a significant 30% increase in 2026, marking a pivotal turnaround after five consecutive years of declining output. Minister of Energy and Green Transition, Dr. John Abdulai Jinapor, announced the rebound, attributing the growth to strategic interventions and renewed investor confidence within the petroleum sector. This resurgence signals a robust recovery for the industry, which had struggled with dwindling volumes and limited new activity since 2021.

The production surge follows a landmark $2 billion investment agreement between the Government of Ghana and Kosmos Energy, along with its partners. The deal included an extension of the operational licences for the Jubilee and TEN offshore oilfields until 2040. Speaking at the African Energy Week in Cape Town, South Africa, Dr. Jinapor explained that the capital injection has facilitated enhanced drilling activities and technical optimizations across these primary assets, effectively reversing the previous downward trend through intensive field development.

Beyond the increase in oil volumes, the Minister highlighted the positive impact on the country's energy security and economic stability. The growth in oil production has concurrently boosted the domestic gas supply, which is critical for national power generation and industrial use. To sustain this momentum, the government is implementing further reforms to streamline the petroleum sector, aiming to make it more competitive and attractive to global investors by improving the ease of doing business.

Looking ahead, Kosmos Energy is scheduled to launch a new drilling campaign in mid-2027, which is expected to further consolidate production levels and extend the lifespan of the country's oil reserves. Dr. Jinapor reiterated the government’s commitment to fostering an investor-friendly environment through transparent policies and regulatory stability. This recovery is viewed as a vital component of the broader economic strategy to leverage natural resources for sustainable development and provide a reliable foundation for the nation's energy transition goals.