Crude oil production falls 25.9% first half of 2025
The country’s crude oil production declined sharply by 25.9 per cent in the first half of 2025, heightening concerns over falling petroleum revenues and long-term energy sector stability, according to the Public Interest and Accountability Committee (PIAC).
The Committee’s 2025 Semi-Annual Report on petroleum revenue management revealed that total output from the country’s three offshore fields, namely Jubilee, TEN and Sankofa Gye Nyame (SGN), dropped to 18.42 million barrels, down from 24.86 million barrels recorded in the same period last year.
PIAC attributed the steep fall to operational shutdowns, reservoir decline and maintenance-related disruptions across the producing assets.
It cautioned that continued output losses could significantly undermine fiscal projections and Ghana’s oil revenue inflows, which remain a major source of budget financing.
“Sustaining production levels is critical to maintaining fiscal stability. Addressing operational inefficiencies and investing in reservoir maintenance are key to reversing this trend,” PIAC advised.
The Jubilee Field, operated by Tullow Oil, suffered the steepest decline, with production tumbling 32.8 per cent to 11.02 million barrels in the first half of 2025, compared to 16.41 million barrels in the same period last year. Average daily production fell from 90,755 barrels per day (bbl/d) to 60,898 bbl/d.
PIAC cited a planned shutdown between 26 March and 8 April 2025 and extended maintenance activities as key reasons for the reduced output. The field recorded its highest monthly production in January (2.40 million barrels) and the lowest in April (1.27 million barrels).
Production from the Tweneboa Enyenra Ntomme (TEN) Field also fell 14 per cent, from 3.45 million barrels in the first half of 2024 to 2.97 million barrels in the first half of 2025. Daily output dropped to 16,420 bbl/d, down from 19,065 bbl/d, due to a flare tip replacement shutdown and ongoing reservoir performance challenges.
Similarly, the Sankofa Gye Nyame (SGN) Field, operated by ENI, recorded an 11.6 per cent dip in production from 5.00 million barrels in the first half of 2024 to 4.42 million barrels in the first half of 2025. Average daily output slipped to 24,463 bbl/d, as intermittent operational disruptions and reservoir management issues persisted.
PIAC warned that the combined decline across all fields poses a serious revenue risk to government finances, particularly as petroleum receipts are used to support budget implementation, debt servicing and infrastructure development.
The Committee urged the Ministry of Energy, Ghana National Petroleum Corporation (GNPC) and international oil companies to intensify efforts toward production optimisation, new field development and reservoir investment to avert further declines.
Beyond short-term operational solutions, PIAC stressed the urgency of diversifying Ghana’s energy portfolio. It noted that persistent production challenges, coupled with volatile global oil prices, could threaten both foreign exchange inflows and energy security.
“There is an urgent need for Ghana to accelerate investments in gas development and renewable energy to reduce reliance on crude oil revenues,” the report added.
