After 12 years of oil production in Ghana, output data indicates a consistent year-on-year decline since peak production in 2019. This decrease is partly due to the natural decline of the only three producing fields among the 14 active petroleum agreements. The Offshore Cape Three Points (OCTP)’s Sankofa Gye Nyame (SGN) field was the last to come on stream in 2017. Despite ongoing drilling campaigns aimed at increasing production, such as the Jubilee South East Project, which is expected to boost output by approximately 30,000 bpd, the industry has seen limited exploration and development activity in Ghana’s upstream sector. The importance of expanding and replenishing reserves through new explorations in Ghana’s basins and accelerating the development of discoveries to production cannot be overemphasized.

Since 2017, ACEP has consistently monitored the performance of upstream petroleum contracts in Ghana through the Petroleum Contracts Monitor. This initiative follows successful advocacy for open contract disclosures, enshrined in the Petroleum (E&P) Law (Act 919). This report continues the monitoring efforts by assessing the performance of existing non-producing petroleum agreements with respect to their work obligations. The assessment sources information from ACEP’s Industry Intelligence and PIAC’s reports on the petroleum agreements.