By Issah Mohammed, GNA
Accra, April 8, GNA – The Public Interest Accountability Committee (PIAC) has urged Government to develop a framework to boost investment in existing oil fields amid declining crude production.
It also called for improvements in regulatory and fiscal frameworks, as well as increased data acquisition in new basins, following Ghana’s sixth consecutive crude oil production decline in 2025.
Mr Richard Ellimah, Chairperson of PIAC, said at the launch of the 2025 Annual Report on the Use and Management of Petroleum Revenue in Accra, that production had continued to fall.
“Production has dropped from a high of 71.44 million barrels in 2019 to 37.3 million barrels in 2025, representing a compounded annual average decline of nine (9) percent. This confirms the widely held view that Ghana’s oil fields have peaked and are on a downward spiral.”
Mr Ellimah said output declined by 22 per cent in 2025 from 48.2 million barrels recorded in 2024.
The report showed that the Jubilee Field produced 22,211,948 barrels, the SGN Field 9,256,418 barrels, and the TEN Field 5,834,432 barrels.
Mr Ellimah said production from the Jubilee Field decreased by 30.3 per cent from 31,849,046 barrels in 2024 to 22,211,948 barrels in 2025.
He said TEN Field output fell by 14 per cent from 6,784,440 barrels in 2024 to 5,834,432 barrels in 2025, while SGN Field production declined by 3.6 per cent from 9,606,544 barrels to 9,256,418 barrels over the same period.
The report attributed the decline to natural field depletion, facility maintenance works and operational disruptions, including maintenance activities at WAPCo.
It said daily average production stood at 63,462 barrels for Jubilee, 16,206 barrels for TEN, and 25,360 barrels for SGN.
On gas production, the report said total output declined to 273,780 million standard cubic feet (MMSCF) in 2025 from 280,511 MMSCF in 2024, representing a 2.4 per cent decrease.
GNA
Edited by Kenneth Sackey
