Kosmos Energy Boosts Ghana’s Jubilee Oil Field Output Above 85,000 bpd with New Wells
Ghana’s flagship Jubilee offshore oil field is delivering its strongest production recovery in years as new drilling activity reverses a prolonged decline and strengthens confidence in the country’s oil sector.
Operator Kosmos Energy reported average production of 72,000 barrels of oil per day (bpd) during the second quarter of 2026, with output rising above 85,000 bpd by the end of the quarter after newly completed wells came online.
The increase is expected to boost government revenues, attract further investment and support Ghana’s broader economic growth.
After commercial production began in 2010, Jubilee became Ghana’s most important oil field.
However, natural reservoir depletion and ageing wells reduced output to around 59,000 bpd in the final quarter of 2025.
In response, Kosmos launched a new drilling programme to restore production and extend the field’s operating life.
The J76 production well, brought online in mid-June, is producing about 20,000 bpd, while the J77 well has been completed and is expected to begin production soon.
Once operational, Jubilee’s production capacity is forecast to reach approximately 90,000 bpd. Kosmos also plans to drill a fifth development well, J50, before the end of July to sustain future output.
The recovery follows a difficult period for Ghana’s petroleum industry. The Public Interest and Accountability Committee (PIAC) reported Jubilee’s production fell by 32.8% during the first half of 2025, contributing to a sharp decline in petroleum revenues from approximately US$1.35 billion in 2024 to US$769 million in 2025, according to the Bank of Ghana and the Ministry of Finance.
The production rebound comes after Ghana extended the operating licences for the Jubilee and TEN offshore fields until 2040, giving operators greater certainty for long-term investment.
The agreement also increases the Ghana National Petroleum Corporation’s (GNPC) participating interest from 19.69% to 29.69% from 2036 and authorises the drilling of up to 20 additional wells.
While higher production is expected to strengthen Ghana’s economy, analysts say long-term benefits will depend on effective revenue management, transparent governance and continued investment to reduce the country’s dependence on oil income.
