GHANA'S OIL OUTPUT IS UP 30%

After five years of falling production, Ghana's upstream sector is finally pointing the right way. 

Dr. John Abdulai Jinapor
(Minister for Energy and Green Transition)

Energy and Green Transition Minister John Abdulai Jinapor told delegates at African Energy Week in Cape Town that crude output is up about 30% this year.

The turnaround follows a $2 billion MoU signed with Kosmos Energy in 2025. The deal extended the Jubilee and TEN licences to 2040, and the government has since approved an amended Jubilee development plan covering up to 20 additional wells. The aim is twofold: lift oil output and supply cheaper gas to domestic power plants.


The numbers behind the claim

  • Jubilee averaged roughly 72,000 bpd gross in Q2 2026.
  • The J76 and J77 wells came online in June and July.
  • Jubilee partners are seeking a rig for up to 10 more wells in 2027–2028, starting around mid-2027.
  • Kosmos has held its 2026 capital budget at $350 million.


Why long licences matter

Kosmos CEO Andy Inglis said the extension gave the company the confidence to invest, especially in technology, while committing to supply low-cost gas to Ghana. His point: energy security also means energy affordability.


What's next: fiscal reform and new players

Ghana is reworking its fiscal terms to attract more upstream capital. Jinapor said the regime is being made more competitive and investor-friendly. The energy and finance ministers have signed off, and the changes now go to cabinet and then parliament.

Once parliament approves, Ghana plans to sign an agreement with Chevron. The government is also in talks with Shell, CNOOC and Petrobras.


The BGB take

The Jubilee deal shows how licence certainty can unlock drilling. The next test is whether the fiscal reforms can do the same for new entrants. Watch the parliamentary timeline, the Chevron agreement, and the 2027 rig campaign.

Is this the start of a lasting recovery? 

Tell us what you think.

BLACK GOLD BULLETIN... 

...where oil minds unite

Source: https://share.google/pSHJnCOjGDK8xIzny

Comments

Post a Comment

Popular posts from this blog

THE NORTH SEA DILEMMA: HOW TRUMP, KEIR STARMER, AND ANDY BURNHAM ARE SHAPING THE FUTURE OF BRITISH ENERGY

Image
For decades, the North Sea has been one of Europe's greatest energy success stories. From the first commercial discoveries in the late 1960s to the oil boom of the 1970s and 1980s, the basin transformed the United Kingdom into a major hydrocarbon producer, generated hundreds of billions of pounds in tax revenues, and supported entire communities across Scotland and northeast England. Today, however, the North Sea finds itself at the center of a global debate that extends far beyond oil and gas. It is now a battleground between energy security and climate ambition, economic pragmatism and environmental responsibility, and increasingly, between three influential political figures: former UK Prime Minister Keir Starmer, newly appointed Prime Minister Andy Burnham, and United States President Donald Trump. AI Generated Theme Image The Rise of the North Sea At its peak, the UK Continental Shelf produced more than 4 million barrels of oil equivalent per day. While production has declined...
Read more

MILLIMETER WAVE DRILLING IN OIL AND GAS

Image
The oil and gas industry has relied on mechanical rotary drilling for generations, and it has served the sector well in tapping into sedimentary reservoirs around the world. Yet as companies chase deeper, hotter, and tougher formations, traditional methods start to show their limits. Bit wear accelerates, trips to replace equipment take longer and cost more, and penetration rates drop sharply in hard rock or high-pressure, high-temperature zones. Millimeter wave drilling could change that. Instead of grinding rock mechanically, this emerging technology uses powerful electromagnetic beams to heat, melt, and vaporize it. Four pictures taken during a recent test of a microwave drilling technique developed by Quaise Energy. Source: Quaise Energy. The idea grew out of work at MIT’s Plasma Science and Fusion Center. Researchers there, including Paul Woskov, took gyrotrons originally built for fusion experiments and turned them toward drilling. These devices produce intense millimeter waves i...
Read more

AFRICA'S PETROLEUM ENGINEERS ARE LEAVING

Image
The continent is not just losing oil revenue. It is losing the minds needed to reverse the decline, and the institutions meant to stop that from happening are running on empty. AI Generated Theme Image When the Strait of Hormuz closed in February 2026, and crude prices spiked sixty per cent within weeks, the conversation everywhere turned to tankers, sanctions, and supply routes. Very few people asked the more uncomfortable question: When the next shock hits, will Africa have enough of its own engineers to respond to it independently? The honest answer, right now, is no. That is not a political statement. It is an institutional one, and it starts with money. KAUST in Saudi Arabia was built with a $10 billion founding endowment drawn directly from state oil revenues, a figure that has since grown to $20 billion. Texas A&M, the academic engine of the Permian Basin, recently became the first university in Texas to cross $1 billion in annual research expenditure. The University of Mine...
Read more