Oil regulation—Ghana—Q&A guide

The following Energy practice note provides comprehensive and up to date legal information covering:

  • Oil regulation—Ghana—Q&A guide
  • 1. Describe, in general terms, the key commercial aspects of the oil sector in your country.
  • 2. What percentage of your country’s energy needs is covered, directly or indirectly, by oil or gas as opposed to nuclear or non-conventional sources? What percentage of the petroleum product needs of your country is supplied with domestic production?
  • 3. Does your country have an overarching policy regarding oil-related activities or a general energy policy?
  • 4. Is there an official, publicly available register for licences and licensees? Is there a register setting out oilfield ownership or operatorship, etc?
  • 5. Describe the general legal system in your country.
  • 6. Describe the key laws and regulations that make up the principal legal framework regulating oil and gas activities.
  • 7. Are there any legislative provisions that allow for expropriation of a licensee’s interest and, if so, under what conditions?
  • 8. May the government revoke or amend a licensee’s interest?
  • 9. Identify and describe the government regulatory and oversight bodies principally responsible for regulating oil exploration and production activities in your country. What sanctions for breach may be imposed by the regulatory and oversight bodies?
  • More...

Oil regulation—Ghana—Q&A guide

This Practice Note contains a jurisdiction-specific Q&A guide to oil regulation in Ghana published as part of the Lexology Getting the Deal Through series by Law Business Research (published: June 2021).

Authors: Kimathi & Partners Corporate Attorneys—Kimathi Kuenyehia, Sr; Sefakor Kuenyehia; Kafui Quashigah; Akua Pinamang Addae

1. Describe, in general terms, the key commercial aspects of the oil sector in your country.

The upstream petroleum industry in Ghana was energised with the commercial discovery of oil in the Jubilee Field in 2007. The Jubilee Field straddles the Deepwater Tano and West Cape Three Points basins some 70km offshore of Ghana and 130km southwest of the port city of Takoradi. The field was estimated to have recoverable reserves of up to 1bstb (billion of stock tank barrels). As of June 2016, the Jubilee Field was estimated to have recoverable reserves of 455mmstb (million stock tank barrels) and 456bscf (billions of standard cubic feet).

Subsequently, further exploration led to the discovery of TEN Fields, Ghana's second major oil development, which was brought onstream and produced its first oil in August 2016. The field holds recoverable oil reserves of about 240mmstb, gas reserves of about 360mmscf (millions of standard cubic feet), and is estimated to produce about 80,000 barrels per day at peak. The TEN project takes its name from the three offshore fields under development: Tweneboa, Enyenra and Ntomme,

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