Government to push major reforms to make Ghana’s upstream oil sector more competitive
The government is reviewing Ghana’s legislative and fiscal framework for the upstream petroleum sector as part of efforts to attract more investment into the industry.
Ghana's government is set to implement significant reforms to the country's upstream oil sector in an effort to boost investment and competitiveness. Energy and Green Transition Minister Dr John Abdulai Jinapor announced these plans during his keynote speech at Ghana Day at Africa Oil Week 2026. The proposed changes aim to create a more favorable environment for investors, especially those involved in deepwater, ultra-deepwater, and frontier exploration activities.
The reforms include implementing more suitable incentives for deepwater, ultra-deepwater, and frontier exploration projects. Additionally, there will be a more attractive royalty structure and a decrease in the Ghana National Petroleum Corporation (GNPC)'s initial carried interest from 15% to 10%. Other modifications include extending the loss carry-forward period and Petroleum Agreement durations, as well as introducing more flexible arrangements for exploration and field development.
These proposed reforms are currently under review by the Cabinet, with the aim of passing them through Parliament before the end of 2026. Dr Jinapor emphasized that these measures are part of President John Dramani Mahama's broader commitment to revitalizing Ghana's upstream petroleum sector and making the country a more attractive destination for investment.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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