Ghana’s flagship Jubilee offshore oil field is enjoying its strongest production recovery in years, with operator Kosmos Energy reporting average output of 72,000 barrels a day in the second quarter of 2026 and production rising above 85,000 bpd by quarter’s end as newly completed wells came online.

The rebound follows a difficult stretch in which natural reservoir depletion and ageing wells pushed output down to around 59,000 bpd by the final quarter of 2025. In response, Kosmos launched a new drilling programme: the J76 well, online since mid-June, is producing about 20,000 bpd, the J77 well has been completed and should begin production soon, and a fifth well, J50, is expected to be drilled before the end of July. Once all wells are on stream, Jubilee’s capacity is forecast to reach roughly 90,000 bpd.

Ghana’s Public Interest and Accountability Committee had reported that Jubilee’s production fell 32.8% during the first half of 2025, contributing to a drop in petroleum revenues from about $1.35 billion in 2024 to $769 million in 2025, according to the Bank of Ghana and the Ministry of Finance. The turnaround comes after Ghana extended the operating licences for the Jubilee and TEN fields to 2040, and increased the Ghana National Petroleum Corporation’s participating interest from 19.69% to 29.69% from 2036, while authorising up to 20 additional wells. Analysts caution that translating higher output into lasting benefit will depend on transparent revenue management and continued investment to reduce Ghana’s dependence on oil income.

Source: angolanminingoilandgas.com