Ghana Oil & Gas Industry Market Report
- The Trade Adviser
- Jun 2, 2024
- 1 min read
Updated: Jun 4
The oil and gas industry in Ghana is a cornerstone of the national economy, contributing significantly to GDP and export earnings. As of 2023, the oil and gas sector is valued at approximately USD 15 billion, with crude oil, natural gas, and petroleum products being the primary commodities (source: Ghana National Petroleum Corporation).
The sector has seen an annual growth rate of 10% over the past five years, driven by new discoveries and increased production. Ghana's GDP stood at USD 74.26 billion in 2022, with the oil and gas sector accounting for about 20% of the total (source: World Bank).
The future growth potential of the sector is substantial, with projections indicating that the market could reach USD 25 billion by 2030, supported by ongoing investments in exploration and production.
