Jinapor prioritises exploration, investment to reverse Ghana’s oil production decline

Minister for Energy and Green Transition, Dr John Abdulai Jinapor, has emphasized the importance of boosting exploration and investment in Ghana's upstream petroleum sector to counter declining production and ensure the industry's future. At the Petroleum Commission's 15th anniversary celebration, Jinapor stated that the government must take proactive measures to make the petroleum sector more appealing to investors in the face of increasing global competition for capital.

The minister revealed that the government is actively working to establish the necessary conditions to attract capital and technology, while ensuring the responsible and efficient development of Ghana's petroleum resources. "Government has therefore made the revitalisation of the upstream sector a priority. We are working to restore investor confidence, increase exploration, reverse production decline, and create a competitive environment for the capital and technology needed to develop our resources," Jinapor explained.

He added that Ghana is already experiencing renewed interest in its upstream acreage, including frontier basins, with major international oil companies showing interest. This increased investment potential demonstrates the potential for Ghana to maintain a robust petroleum industry if the appropriate regulatory and investment environment is maintained.