Ghana’s oil production has been on a steady decline since peaking in 2019, raising serious concerns about the country’s future petroleum revenue and energy sustainability, according to the Head of the Public Interest and Accountability Committee (PIAC) Secretariat, Isaac Dwamena.
Odeefuo Amoakwa Buadu VIII said Ghana’s total crude production since the beginning of commercial oil production has now reached 675.1 million barrels. However, he expressed concern that the country’s output has been falling steadily since its highest level of 71.4 million barrels recorded in 2019.
Ghana is not attracting new investments in its upstream petroleum industry, to the extent that no new Petroleum Agreement has been signed since 2018, according to the 2025 Semi-Annual Report by the Public Interest and Accountability Committee (PIAC). The report stated that fewer drilling and completion operations on the Jubilee field were carried out during […]
All priority areas such as agriculture, including fisheries; physical infrastructure and service delivery in education and health; and roads, rail and other critical infrastructure received funding in the period under review with the exception of industrialisation.
The Public Interest and Accountability Committee (PIAC) has called for an urgent need to improve the legal, regulatory and fiscal framework to enhance the country’s investment climate and thereby attract the needed investments in the industry.
The Public Interest and Accountability Committee (PIAC) has highlighted that the most immediate consequence of declining oil production is a reduction in revenue from oil and gas.
A member of Public Interest and Accountability Committee (PIAC), Mr Constantine K. M. Kudzedi, has warned that Ghana must act quickly to address the steady decline in crude oil production.
The Public Interest and Accountability Committee (PIAC) will today commence a two-day workshop on finding solutions to the declining crude oil production in the country.
Declining crude oil production in Ghana spanning a four-year period will be the subject for discussion at a two-day technical consultative workshop in Accra.
The Public Interest and Accountability Committee (PIAC) in collaboration with its partners – Kwame Nkrumah University of Science and Technology (KNUST), Ministry of Energy (MoEn), Ghana National Petroleum Corporation (GNPC), Petroleum Commission (PC) and Ghana National Gas Limited Company (GNGLC), is hosting a 2-day technical consultative workshop on16th and 17th October 2024 in Accra.