The Public Interest and Accountability Committee (PIAC) has warned that inefficiencies at Ghana’s TEN oil field and rising gas company debt threaten the country’s energy value chain.
The committee’s 2025 Annual Report flagged a sharp gas reinjection rate at the Tweneboa-Enyenra-Ntomme (TEN) Field, which reached 81 percent. PIAC said the level signals serious constraints in gas utilisation and field efficiency.
PIAC also raised concerns about the debt position of the Ghana National Gas Company Limited (GNGLC), which stood at US$620.54 million. The committee described the exposure as a systemic risk to the country’s energy value chain, with potential knock on effects on power generation and gas supply contracts.
The findings were amplified during a training workshop in Accra for members of the Institute of Financial and Economic Journalists (IFEJ) and the Parliamentary Press Corps. Speaking at the session, the Executive Director of the Centre for Extractives and Development Africa (CEDA), Samuel Bekoe, attributed the sustained production decline to maturing fields, natural reservoir depletion, technical challenges, and limited upstream investment.
Crude oil production has now fallen for the sixth consecutive year, declining from 71.44 million barrels in 2019 to 37.3 million barrels in 2025. That represents an average annual drop of about nine percent. Total petroleum receipts also fell by 43.27 percent, from US$1.36 billion in 2024 to US$770.27 million in 2025.
PIAC urged the government to develop a framework that boosts investment in existing oil fields, particularly the TEN Field. It recommended improvements to fiscal and regulatory conditions to attract exploration in new basins, alongside a medium term plan to enhance reservoir interconnectivity and extend the productive life of the field.
On revenue allocation, the report found that only 0.43 percent of the Annual Budget Funding Amount (ABFA) was transferred to the District Assemblies Common Fund (DACF), well below the constitutionally required five percent. “This raises constitutional and compliance concerns,” Bekoe said.
A further US$434.55 million earmarked for infrastructure under the government’s Big Push agenda remains parked in a suspense account. Receipts by the Ghana National Petroleum Corporation (GNPC) fell by 61.55 percent on policy changes, while total reserves in Ghana’s petroleum funds rose 6.59 percent to US$1.55 billion. The Ghana Heritage Fund grew 9.36 percent, but the Ghana Stabilisation Fund declined 11.14 percent following withdrawals and what the committee described as improper capping.
PIAC was established under Section 51 of the Petroleum Revenue Management Act (PRMA), 2011 (Act 815), as a citizen led statutory body that supports Parliament in monitoring how petroleum revenues are collected, allocated, and used.
