President John Dramani Mahama has assured investors and partners in Ghana’s upstream petroleum sector that his government remains committed to resolving disputes and arbitration awards in a manner that protects the interests of all parties.
He said Ghana would honour its obligations to industry partners and work towards mutually acceptable resolutions to disagreements that could undermine investor confidence in the oil and gas sector.
Speaking at the 2026 Petroleum Commission Local Content Conference and Exhibition in Takoradi, President Mahama said the government recognised the importance of maintaining stable and predictable relations with investors as the country sought to revive petroleum exploration and increase production.
“Ghana remains committed to its upstream partners in the oil and gas sector, and despite some recent disputes which have required arbitration, I wish to assure all our partners that Ghana will resolve any arbitral awards and disagreements in a manner that endures to the benefit of all parties,” he said.
The President cited the outcome of arbitration between the Government of Ghana and Tullow Oil as an example of efforts to resolve disputes through engagement and negotiation.
He disclosed that following the arbitration, both parties had held discussions and agreed on a roadmap acceptable to them.
“In this regard, following the arbitration between Government of Ghana and Tullow, both parties have sat down and negotiated a roadmap acceptable to both,” President Mahama stated.
The assurance comes as the government intensifies efforts to restore investor confidence, attract new capital and reverse the decline in Ghana’s crude oil production.
President Mahama acknowledged that governance challenges and inconsistencies in the regulatory environment had contributed to a decline in interest in Ghana’s petroleum prospects, prompting some major industry players to withdraw or redirect investments elsewhere.
He said his administration had tasked the Minister for Energy and Green Transition with resolving outstanding upstream disputes, rebuilding investor confidence and working with industry partners to increase production.
The President also disclosed that crude oil production had risen to more than 120,000 barrels per day, while existing operators were committing significant capital to new projects.
The Jubilee partners have committed $2 billion, while partners in the Offshore Cape Three Points project have committed $1.5 billion to investments expected to support new wells, subsea infrastructure and expanded production facilities.
President Mahama said the government would continue to provide a stable and predictable investment environment while ensuring that petroleum laws and regulations were applied fairly and in the public interest.
He emphasised that renewed investor confidence must go hand in hand with greater participation by Ghanaian businesses and workers in the oil and gas value chain.
He urged the Petroleum Commission to maintain clear standards for operators and contractors, particularly in safety, environmental protection and local participation, as Ghana works to secure long-term growth in the upstream petroleum sector.
Story: Patrick Asford Boadu
