KEY POINTS
- A new Jubilee well adds more than 10,000 bpd.
- Licence extensions allow drilling plans through 2040.
- Higher output could lift revenue and forex inflows.
Ghana’s offshore oil sector is showing renewed momentum after a fresh production gain at the Jubilee field signaled a broader recovery in output and investment, positioning the country as a more prominent crude producer in West Africa.
The latest well, the second drilled under the 2025–26 Jubilee development campaign, encountered about 50 metres of net hydrocarbon pay and is expected to deliver more than 10,000 barrels per day once fully brought onstream. The addition strengthens Jubilee’s contribution at a time when Ghana is seeking to stabilise production after years of gradual decline linked to ageing offshore infrastructure.
Discovered in 2007, Jubilee remains the backbone of Ghana’s oil industry. The field is operated by Kosmos Energy in partnership with Tullow Oil, the Ghana National Petroleum Corporation and PetroSA. While output from the field had eased in recent years, a renewed drilling programme and regulatory support are now reversing that trend.
Jubilee field gets fresh lift
The new producer forms part of a wider offshore plan that includes five additional wells approved for 2026. These comprise four production wells and one injector aimed at supporting reservoir pressure. Drilling on the next producer is already under way, underscoring the pace of the development push.
Ghana’s Minister for Energy and Green Transition, John Abdulai Jinapor, said the licence extension agreement underpinning the new drilling marked an important step for the sector. He described the memorandum of understanding as evidence of the government’s commitment to expanding oil production while creating a more predictable framework for investment.
Earlier this year, the government approved licence extensions for both the Jubilee and the nearby TEN fields through 2040, according to Business Insider Africa. The step allows operators to pursue revised development plans that include up to 20 additional wells, extending the life of key offshore assets and signalling long-term confidence in Ghana’s petroleum prospects.
Revenue outlook improves
Analysts say the production increase could reshape Ghana’s fiscal outlook at a time when public finances remain under strain. Higher crude output is expected to lift government revenue, complementing earnings from gold, the country’s largest export.
Kosmos Energy said the milestone reflected a focus on maximising value from existing assets while extending the productive life of one of Ghana’s most important offshore fields. The company added that sustained investment and careful reservoir management would be critical to maintaining gains over the long term.
Officials expect stronger oil output to boost foreign exchange inflows, help stabilise the cedi and improve budget planning amid swings in global commodity prices. The ramp-up is also likely to add incremental supply to the West African market, where production is concentrated in a handful of offshore fields.
With drilling activity accelerating and regulatory certainty in place, Ghana’s partners are aiming to secure steady output growth and reinforce the country’s standing as an emerging oil hub in the region.
