The Public Interest and Accountability Committee, (PIAC) has asked government to find innovative ways to attract more investments into the oil and gas sector.
In addition, PIAC has appealed to government to find solutions to challenges leading to a decline in oil production in Ghana.
PIAC in its first half 2025 report observed that Ghana is not attracting new investments into its upstream petroleum industry — with no new petroleum agreement signed since 2018.
The committee observed that for period-by-period comparison, crude oil production declined by 25.92 percent, from 24,857,477.52 bbls in H1 2024 to 18,415,410.74 bbls in H1 2025.
The total petroleum receipts for the period decreased by 56 percent from US$840,765,265.80 in H1 2024 to US$370,343,681.17 in H1 2025, mainly due to relatively lower crude oil production and price.
“The Committee reiterates its call on the government, as a matter of urgency, to ensure that the Ministry of Energy and its allied agencies increase efforts to arrest the decline in crude oil production and secure investments into Ghana’s upstream petroleum industry” Vice Chairman of the Committee, Odeefuo Amoakwa Boadu VII said at a press engagement.
The Report also reviewed the performance of institutions with responsibilities under the PRMA, including PIAC itself. Its findings and recommendations are intended to guide policy formulation while promoting transparency and accountability in the management of Ghana’s petroleum resources.
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