PIAC calls for investment in TEN oilfields to boost production

The Public Interest and Accountability Committee (PIAC) has urged the government to invest in the Tweneboa, Enyenra and Ntomme (TEN) oilfields to boost Ghana's crude oil production. The committee highlighted that these fields have yet to reach their full production potential, nearly a decade after they began operation. They warned that without unlocking the remaining production capacity, Ghana's efforts to maintain crude oil production and reduce its reliance on imported gas could be jeopardized.

At a recent workshop discussing PIAC's 2026 half-year report, PIAC's Chairman Richard Ellimah noted that petroleum receipts had increased by 52% from $370.3 million in the first half of 2025 to $561.4 million in the same period of 2026. This growth was largely driven by higher crude oil prices, with the average realized price of $92.80 per barrel surpassing the government's benchmark of $76 per barrel.

However, Ellimah emphasized that sustained investment in existing oilfields is crucial for safeguarding Ghana's petroleum production and revenue outlook. PIAC's Technical Director, Mark Agyemang, pointed out that Ghana has yet to fully exploit the gas potential of the TEN field due to financial and technical complexities. He cautioned that without additional gas production, the country might be forced to import gas from Nigeria or rely on liquefied natural gas (LNG).

Agyemang called on the government to collaborate with petroleum partners to address the challenges facing the fields and determine the necessary fiscal measures to maximize their production potential.