Ministry of Energy Ghana develops and ensures a reliable high quality energy service at the minimum cost to all sectors of the economy through the formulation, implementation, monitoring and evaluation of energy sector policies.
Within the context of energy sector vision, the goal of the energy sector is to make energy services universally accessible and readily available in an environmentally sustainable manner.
The Ministry of Energy has undergone restructuring and name changes over the years. The Ministry’s name was changed from Ministry of Energy to Ministry of Energy and Petroleum in 2012; split into Ministries of Petroleum and Power in November 2014 and on February 27, 2017, by Executive Instrument, (E.I. 28 ), the Ministries of Petroleum and Power were merged to create the current Ministry of Energy.
Upstream activities include pre-licensing, licensing, exploration and appraisal, field development and production, disposal and decommissioning. Ghana has four sedimentary basins that are considered to have high prospects for the discovery of oil and gas.
They are Western (Tano- Cape Three Points) Basin, Central (Saltpond) Basin, Eastern (Accra –Keta) Basin which are all offshore and are fairly well explored and the Voltaian Basin which is onshore and has seen little exploration.
In 2007, the jubilee Field became Ghana’s first major commercial discovery. In less than a decade of First Oil from the Jubilee Field, significant strides have been made in the Upstream Subsector with twenty five discoveries made since 2007.
Ghana currently produces 200,000 barrels of oil per day (bpd), led by its flagship Jubilee field which produces about 100,000 bpd.