Ghana's oil output is up 30% after five years of decline
New wells at the Jubilee field, licence extensions to 2040 and a $2bn agreement with Kosmos Energy are behind the rebound, the energy minister says.
PANM — Ghana's crude oil production has risen by about 30% after five years of decline, energy and green transition minister John Abdulai Jinapor told African Energy Week in Cape Town, MyJoyOnline reports.
What turned it around
- A $2 billion memorandum of understanding signed in 2025 with Kosmos Energy, a partner in the Jubilee field, and an agreement extending the Jubilee and TEN field licences to 2040.
- A revised Jubilee plan with up to 20 more wells, which the government has approved. Two new wells, J76 and J77, came on stream in June and July 2026, and Kosmos reported average gross output of about 72,000 barrels a day from Jubilee in the second quarter.
- Kosmos plans to drill up to ten more wells in 2027 and 2028, starting in mid-2027.
Jinapor said the deal had moved "from commitment to implementation" and could be a model for other oil companies. Kosmos's chief executive, Andy Inglis, said the longer licences give the certainty needed for more investment, especially in gas, and that energy security must be matched by affordability.
More to come
Ghana is engaging Chevron, Shell and CNOOC, its talks with Petrobras have advanced, and reforms to the petroleum tax regime, backed by the energy and finance ministers, are heading to Cabinet and Parliament.
Source: MyJoyOnline, Joy Business, 16 October 2026.
