Minister for Energy and Green Transition, John Jinapor says government is determined to revitalise Ghana’s upstream petroleum industry amid falling production and declining exploration activity.
Speaking at the 2025 Local Content Conference & Exhibition, he acknowledged that the sector has faced significant challenges in recent years including a 32% decline in crude oil production since 2019 and waning investor interest.
However, he assured stakeholders that decisive measures are being implemented to restore investor confidence, boost exploration and strengthen local participation in the petroleum value chain.
“Despite recent challenges including a 32% decline in oil production since 2019 and reduced exploration activity, decisive actions are underway to restore investor confidence and strengthen local participation,” he stated.
Mr. Jinapor explained that the reforms which form part of President John Dramani Mahama’s Reset Agenda focus on regulatory streamlining, fiscal incentives, gas development initiatives and a renewed emphasis on local content to stimulate growth across the sector.
He noted that these interventions aim not only to reverse production declines but also to ensure a sustainable and competitive energy future anchored in Ghanaian participation and innovation.
“Through regulatory reforms, fiscal incentives, gas development initiatives and renewed focus on local content, we are charting a new course for growth,” the Minister added.
Mr. Jinapor further pointed out that Ghana’s upstream industry is entering a renewal phase, with government working closely with private sector partners and local firms to build a resilient, competitive and future-ready energy economy capable of driving national development.
The Local Content Conference & Exhibition brought together key industry players, regulators and investors to discuss strategies for enhancing Ghana’s petroleum value chain and positioning the country as a preferred destination for energy investment in West Africa.