Edward Bawa is the Group CEO of GOIL PLC
Group CEO of GOIL PLC, Edward Bawa has raised concerns over Ghana’s declining oil production, attributing the issue to deep-rooted structural challenges within the sector.
Speaking at an oil and gas forum in Accra on Wednesday, April 16, 2025, Bawa revealed that Ghana’s oil production has dropped by more than 25 percent in recent years.
“Let’s not deny or pretend that the situation in Ghana today is not good. It’s not good because if we look at the data from 2019 to now, production has declined by about 25%,” he said.
Bawa’s remarks underscore the urgent need for reforms and investment to address the obstacles hampering the country’s oil output and to ensure long-term sustainability.
He further explained that the decline in production is primarily due to underinvestment and inefficiencies, noting that some license holders have failed to effectively develop or utilise their allocated resources.
“This has been caused by various factors, underinvestment and cases where even those holding licenses are not actively developing resources,” he added.
Bawa was first appointed Acting CEO of the Ghana National Petroleum Corporation (GNPC) in January 2025 by President John Mahama, before he was later reassigned as GOIL Group as CEO in February 2025.
FKA/MA