Edward Bawa, Group CEO of GOIL, has voiced concern over Ghana’s declining oil production, citing significant structural challenges facing the sector.
Speaking at an oil and gas forum in Accra on Wednesday, April 16, Bawa revealed that the country’s oil output has fallen by over 25 percent in recent years.
“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 said.
He attributed the drop to multiple issues, including underinvestment and inactive license holders.
“This has been because of various factors—underinvestment because you have situations who even people who hold licenses are not actual,” Bawa explained.
His comments highlight growing industry concerns about the need for strategic reforms and increased investment to stabilize and revitalize Ghana’s oil production.
