Ghana’s Oil Production Faces Uncertainty

The committee highlighted that the TEN fields have not yet reached their maximum production potential, almost ten years after they began operations.

Failure to tap into the fields’ remaining capacity could jeopardize Ghana’s goal of maintaining crude oil output and lessening its reliance on imported gas.

During a two-day workshop on PIAC’s 2026 half-year report, Mr Richard Ellimah, Chairman of PIAC, stated that petroleum revenue rose by 52 per cent, reaching $561.4 million in the first half of 2026 from $370.3 million in the same period of 2025.

Despite the revenue increase, Mr Ellimah emphasized the importance of continued investment in existing oilfields to ensure the country’s petroleum production and revenue prospects remain stable.

He also mentioned that the Ghana Group did not extract any oil from the TEN field during the reviewed period, highlighting the urgency for new investments to boost output.