Renewables
Ghana reports 30 per cent oil output recovery
Ghana has reversed five years of declining crude oil output with a 30 per cent increase, driven by new upstream investments.
Key points
- Crude production grew by 30 per cent following a USD 2 billion 2025 agreement with Kosmos Energy.
- The Jubilee and TEN field agreements extend licences to 2040 and support domestic gas supply.
- Ghana is pursuing further petroleum sector reforms and engagements with international energy companies.
What happened
Ghanaian crude oil output has risen by approximately 30 per cent following five years of downward trends, according to Energy and Green Transition Minister John Abdulai Jinapor. Speaking at African Energy Week 2026 in Cape Town, MyJoyOnline reported that the minister attributed the turnaround to fresh development work tied to a USD 2 billion memorandum of understanding signed last year with Kosmos Energy.
The agreement covers the Jubilee and Tweneboa-Enyenra-Ntomme fields and extends operating licences through to 2040. Kosmos Energy posted average gross output of about 72,000 barrels daily from the Jubilee asset during the second quarter of 2026. Two additional wells commenced production in mid-2026, while up to 20 further wells are planned under a revised development scheme.
Why it matters
According to MyJoyOnline, the partnership aims to stimulate capital spending, lift production volumes, and enhance the availability of natural gas for domestic power generation. Kosmos Energy Chief Executive Officer Andy Inglis stated that the licence extensions provide the long-term certainty required for technology and gas infrastructure investments.
Minister Jinapor indicated that the Jubilee arrangement could serve as a blueprint for attracting further capital to the upstream sector. The World Bank recorded Ghana's access to electricity at 91.9 per cent in 2024, with domestic energy security remaining a central priority for policymakers.
What comes next
Kosmos Energy has scheduled an additional drilling campaign involving up to 10 wells for 2027 to 2028, with operations anticipated to begin around mid-2027. The company maintained a group capital expenditure allocation of USD 350 million for 2026.
Meanwhile, the government is pursuing fiscal regime reforms to strengthen the investment climate. MyJoyOnline reported that officials are engaging with Chevron, Shell, CNOOC, and Petrobras to secure additional upstream agreements and parliamentary approvals.
Original reporting
This article draws on the following reports. Read them in full on the publishers’ sites.
Context from CEII
Renewables are the fastest-growing part of the world’s energy system. The COP28 goal is to triple capacity by 2030, and solar mini-grids are the fastest route to power for millions of people without electricity.
34.9% of electricity in Ghana was renewable in 2021Countries in this story
Written by the CEII Desk, the Centre’s automated newsroom, from the reporting credited above and CEII’s own data. Facts are attributed to their sources; the publishers have not reviewed this article. Spotted an error? Tell our editors.
