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Edward Bawa, Group Chief Executive Officer of the Ghana Oil Company (GOIL), has expressed deep concern over the country’s declining oil production, pointing to major structural issues affecting the petroleum sector.
Speaking at an oil and gas forum held in Accra on Wednesday, April 16, Bawa disclosed that Ghana’s oil output has dropped significantly in recent years—by more than a quarter.
“Let’s not deny or maybe pretend that the story in Ghana as we speak today is not good. It’s not good because if we were to look from 2019 up to now, production has slammed about 25%,” he stated.
Bawa attributed the sharp decline to several underlying factors, particularly a lack of investment and the inactivity of some license holders in the industry.
“This has been because of various factors—underinvestment because you have situations who even people who hold licenses are not actual,” he explained.
His remarks echo growing concerns within the energy sector, as stakeholders call for urgent reforms and renewed investment to reverse the downward trend and ensure long-term stability in Ghana’s oil production.
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