Ghana Oil Rebounds With Five of Six Jubilee Wells

Ghana’s upstream oil and gas sector is showing signs of recovery after more than five years of declining production. The government and its partners have launched new drilling programs and extended licenses in an effort to stabilize and grow output. The lead operator of the Jubilee field and the Tweneboa, Enyenra, and Ntomme (TEN) fields reported encouraging results from the latest campaign.

At the Jubilee field, five of the six planned wells have now been completed successfully. The operator said this year’s drilling campaign remains on track. Production at the field is currently above 94,000 barrels of oil per day. The final well is expected to come online in September.

Meanwhile, the TEN fields continue to outperform expectations.

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They are currently producing more than 14,000 barrels of oil per day. Combined output from the two fields now sits above 100,000 barrels per day.

Gas price cut and facility reliability

In a move aimed at supporting the country’s power sector, it said it will continue supplying an average of 115 million standard cubic feet per day of Jubilee gas to Ghana National Gas Company. The price has been reduced to $2.50 per million British thermal units, down from more than $3.08 per MMBtu previously.

Operational performance has remained strong.

The Jubilee and TEN partners reported average facility uptime of over 99% from January to May 2026.

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Industry players welcomed the direction the partners are taking.

They noted that the lower gas price will reduce overall energy bills for households and businesses, lower operational costs for manufacturing and transport, and act as an affordable bridge fuel that helps move away from dirtier energy sources like coal. Energy, they said, is the lifeblood of a 24-hour economy, requiring an uninterrupted and affordable power supply.

Long-term investment in Greater Jubilee Plan

The recently approved Greater Jubilee Plan of Further Development supports drilling up to 20 additional wells. The plan is backed by an estimated $2 billion investment in both the Jubilee and TEN fields. The goal is to sustain production and maximize recovery over the long term. The partners said they hope to identify more prospects and will keep stakeholders updated on all activities and progress.