PIAC urges government to secure fresh investment for TEN oilfield

The Public Interest and Accountability Committee (PIAC) has called on the government to urgently secure new investments for the Tweneboa, Enyenra, and Ntomme (TEN) oilfield. This recommendation follows observations that current production levels at the facility have fallen significantly below initial expectations. The committee expressed concern that the current trend could undermine the long-term sustainability of the project and its contribution to the national economy.

According to PIAC, the decline in output at the TEN field highlights a critical necessity for new drilling activities. The committee emphasized that significant capital injection is required to support expanded exploration and extraction efforts. Without these interventions, the field's future viability remains at risk, which could have broader negative implications for the health of Ghana’s petroleum industry and the country's ability to meet its energy targets.

Beyond immediate operational concerns, PIAC noted that securing fresh investment is vital for maintaining the overall stability of the oil sector. As one of the nation's major offshore assets, the performance of the TEN field directly impacts government revenue. The committee’s appeal serves as a directive for the government to prioritize the creation of a more attractive environment for international and local investors to engage in field expansion and technical upgrades.