Ghana’s oil production has fallen steadily since hitting a record 71 million barrels in 2019. By 2024, output had dropped to 48 million barrels, and mid-2025 figures show only 18 million barrels produced so far. Experts warn total output for 2025 could fall to around 36 million barrels. PIAC Head Isaac Dwamena says this sharp decline threatens government revenue and national projects. Oil contributes about 10% of Ghana’s total income.
The drop is mainly due to natural depletion of key fields like Jubilee and TEN. Dwamena stressed the need for new oil discoveries to replace ageing fields. He added that recent investments in the Jubilee field have only slowed, not stopped, the decline.
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