The most immediate challenge confronting Ghana’s upstream petroleum sector is production decline - Jinapor
Jubilee, TEN and Sankofa Gye Nyame oil fields remain the backbone of national petroleum production, but these assets are mature
Ghana's upstream petroleum sector is currently grappling with a significant challenge: the decline in production and depletion of reserves, according to Dr John Jinapor, the Minister of Energy and Green Transition. The country's primary oil fields, including Jubilee, TEN, and Sankofa Gye Nyame, are mature and necessitate advanced reservoir management, enhanced recovery techniques, infill drilling, and timely capital investment to maintain production levels.
Despite reserves remaining above the target level, the government is not satisfied with this trend and emphasizes the need for increased reserves to match the barrels produced. To address this issue, the government plans to collaborate with the Ghana National Petroleum Corporation (GNPC), the Petroleum Commission, and industry operators to expedite field development, appraisal, and exploration.
The government aims to enhance the pace of approvals, tackle infrastructure bottlenecks, and create a more predictable investment environment. This strategic shift in exploration and upstream investment is crucial to transitioning discovered resources into production more rapidly while paving the way for new discoveries.
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