Ghana is on track to cement its position as a major oil producer in West Africa after the Jubilee offshore field boosted crude oil production to nearly 70,000 barrels per day (bpd) following the completion of the J‑74 producer well.
The well, the second drilled in the 2025–26 Jubilee development campaign, encountered roughly 50 metres of net pay and is expected to deliver more than 10,000 bpd once fully online.
Jubilee, discovered in 2007 and operated by Kosmos Energy in partnership with Tullow Oil, Ghana National Petroleum Corporation (GNPC), and PetroSA, has been a backbone of Ghana’s offshore production, but output had gradually declined in recent years due to ageing infrastructure.
Ghana’s Minister for Energy and Green Transition, John Abdulai Jinapor, said of the licence extension agreement that “this memorandum of understanding marks a significant step forward in our nation’s energy sector,” showing Ghana’s commitment to expanding oil production and investment.
The new well is part of a broader offshore development programme that includes five additional wells approved for 2026 (four producers and one injector) with drilling of the next producer already under way.
The government’s recent approval of licence extensions for Jubilee and the nearby TEN fields through 2040 allows operators to expand recovery, with up to 20 additional wells planned under revised development plans, signalling long-term commitment to maintaining and increasing output.
Production boost to reshape West Africa’s oil landscape
Industry analysts say the ramp-up will not only stabilise Ghana’s output but also increase West Africa’s oil supply, where a few offshore fields dominate exports.
“This milestone reflects our commitment to maximising value from existing assets and extending the life of one of Ghana’s most important offshore fields,” Kosmos Energy said, highlighting the strategic significance of the breakthrough.
For Ghana’s public finances, the production increase could provide a much-needed boost to government revenue, complementing earnings from gold, the country’s traditional top export.
Officials expect the higher output to strengthen foreign exchange inflows, support the cedi, and improve budget planning amid global commodity price volatility.
The Jubilee partners are emphasising sustained investment and reservoir management to ensure long-term gains as the project aims cement Ghana’s status as a rising oil power in West Africa.
