Structural challenges reason for Ghana’s oil production decline – GOIL

Edward Bawa, the Group CEO of GOIL, is worried about Ghana's oil production. He spoke at an oil and gas forum in Accra on April 16. Bawa noted that the country's oil output has dropped by over 25 percent in recent years.

He said, "Let’s not deny or pretend that the story in Ghana is good." He explained that since 2019, production has decreased significantly.

Bawa attributed this decline to several issues. These include underinvestment and inactive license holders. He stated, "This has been because of various factors—underinvestment because some license holders are not active."

His comments reflect growing concerns in the industry. There is a need for strategic reforms and increased investment to stabilize Ghana's oil production.