Petroleum Sector Set for Revival After Years of Decline — Energy Minister

Ghana’s petroleum sector is expected to witness a long-awaited revival in 2026 after enduring five successive years of declining production, according to the Minister for Energy and Green Transition, John Jinapor.

Addressing President John Dramani Mahama’s “Resetting Ghana” citizens’ engagement in the Savannah Region, Mr Jinapor observed that renewed investor confidence and ongoing reforms within the upstream petroleum industry were beginning to yield encouraging signs of recovery.

He revealed that Government had secured a US$1.5 billion memorandum of understanding with Italian energy giant Eni, in addition to a further US$2 billion agreement with Jubilee Partners, both intended to invigorate crude oil production and fortify the nation’s energy sector.

“For five consecutive years, petroleum production has been in decline. This year, production is expected to rise again,” the Minister stated, expressing cautious optimism about the sector’s prospects.