The Minister of Energy and Green Transition, Dr John Jinapor, on Tuesday, November 10, joined industry stakeholders at the Petroleum Commission’s 2026 Local Content Conference and Exhibition in Takoradi.
In his address, he reaffirmed the commitment of President John Dramani Mahama’s Administration to realising his vision of revitalising Ghana’s upstream petroleum sector, attracting new investments and creating greater opportunities for Ghanaian businesses.
Dr Jinapor particularly encouraged that “we are on course to reverse the persistent decline in crude oil production for the first time in approximately six years.”
He said that through targeted interventions and renewed collaboration with industry partners, average daily production has increased by approximately 22%, from 102,000 barrels in 2025 to 122,700 barrels.
“Our exploration drive is also yielding encouraging prospects. As announced by H.E. President John Dramani Mahama at the programme, the Nya Gyidie-1X exploratory well in the Deepwater Cape Three Points Block, drilled by Planet One Oil and Gas Limited in partnership with GOIL Upstream Limited and GNPC, has recorded a significant hydrocarbon accumulation. This discovery marks an important development in our efforts to expand Ghana’s petroleum resource base,” he said.
He further revealed that the government is also pursuing new exploration opportunities, accelerating the development of key petroleum discoveries, increasing domestic gas production and implementing strategic fiscal and regulatory reforms to strengthen Ghana’s competitiveness as a destination for petroleum investment.
Equally significant is the nearly 99% growth in the value of services provided by Indigenous Ghanaian Companies, from US$227.5 million in 2024 to US$451.8 million in 2025, he said.
“I emphasised that local content must go beyond regulatory compliance. It must be a strategic driver of economic transformation, technology transfer, job creation and the development of internationally competitive Ghanaian enterprises,” Dr Jinapor said.
To international oil companies, he said, “Partner with Ghanaian businesses, transfer technology and invest in local capabilities. I also challenged our indigenous companies to continuously strengthen their technical capacity, corporate governance, innovation, operational efficiency and competitiveness to take full advantage of the opportunities ahead.”
