Ghana's Minister of Energy and Green Transition, John Abdulai Jinapor, announced a 30% increase in the nation's crude oil production. This reverses a five-year decline.
Minister Jinapor made the announcement at African Energy Week 2026. The production increase stems from a successful development campaign. This campaign followed a 2025 memorandum of understanding with Jubilee partner Kosmos Energy.
The upstream petroleum sector's revitalization attracted $3.5 billion in new investment commitments. These commitments aim to expand operations and drill new wells.
The government's strategy focuses on attracting private investment. It also aims to increase local participation and value addition in the petroleum value chain.
This positive development in the national oil sector provides a favorable backdrop for companies like GOIL.