The Public Interest and Accountability Committee (PIAC), led by its newly appointed Chair, Mr. Richard Ellimah, today, paid a courtesy visit to the Petroleum Commission to strengthen engagement and exchange views on developments in Ghana’s upstream petroleum sector.
Following introductions, PIAC noted that it considers the Petroleum Commission a key stakeholder in its work, a relationship it said has been strengthened over the years through consistent data sharing by the Commission. According to the Committee, this long-standing collaboration informed its decision to formally request the meeting.
The visit also provided a platform for PIAC to raise concerns about recent developments in the upstream petroleum industry, particularly the sustained decline in crude oil production.
PIAC described the trend as worrying and sought clarity on the measures being put in place by the Commission to reverse the decline and restore growth in the sector. The Committee further requested updates on new investments in the industry, as well as the status of the PECAN oil fields.
In recalling previous engagements, PIAC noted that in 2024 it convened a meeting on declining oil production, during which the Petroleum Commission participated and provided data and insights that enriched the Committee’s deliberations.
Responding to the issues raised, the Ag. Director of Resource Management at the Petroleum Commission, Mr. Daniel Koranteng explained that the decline in oil production has been a concern since 2019, with output falling by about 50 per cent as at 2025. He assured the Committee that the Commission is working assiduously to address the challenge and reposition the industry for recovery.
He indicated that the Commission has signed Memoranda of Understanding with Tullow Ghana Limited and ENI to support increased in-field production and noted that additional international companies have also come on board. These interventions, he said, are expected to result in improved production levels from the fourth quarter of 2026 through to the first quarter of 2027.
Welcoming the delegation, the Chief Executive Officer of the Petroleum Commission, Ms. Emeafa Hardcastle, commended PIAC for initiating the engagement and described it as timely and necessary.
“This engagement is long overdue, and I am pleased that it has finally come to fruition. We value PIAC’s role in promoting transparency and accountability in the sector, and we see this meeting as an important step in strengthening collaboration as we work to address the challenges facing the industry,” Ms. Hardcastle said.
She reaffirmed the Commission’s commitment to transparency, stakeholder engagement and sustained collaboration in the national interest, noting that open dialogue remains critical to ensuring the long-term sustainability of Ghana’s petroleum industry.
The meeting ended with a shared understanding on the need for continued engagement and information sharing between the two institutions.