Ghana is seeking to recover $4.14 million in unpaid surface rentals from upstream petroleum companies, with the Public Interest and Accountability Committee (PIAC) recommending tougher measures against defaulting operators in its 2026 semi-annual report.
The arrears comprise $2.41 million owed under existing petroleum agreements and $2.73 million linked to terminated agreements as of June 2026.
PIAC has proposed penalties and interest on outstanding payments, as well as making full settlement a condition for the renewal, renegotiation or reassignment of petroleum agreements.
Surface rentals are among the petroleum revenues paid into the Petroleum Holding Fund (PHF), held at the Bank of Ghana under the Petroleum Revenue Management Act, 2011 (Act 815). Other revenue sources include royalties, carried and additional participating interest (CAPI), corporate income tax (CIT) and additional oil entitlement (AOE).
The Ghana Revenue Authority (GRA) is responsible for assessing, collecting and accounting for these revenues.
PIAC urged the GRA to take stronger action against persistent defaulters, including penalties and interest on outstanding payments. It also recommended that full settlement of arrears should be a precondition for renegotiating, renewing or reassigning petroleum agreements.
The recovery efforts come amid improved petroleum revenue performance, with total receipts increasing by 52% year-on-year to $562.41 million in the first half (H1) of 2026, from $370.34 million in the corresponding period of 2025.
One affected company, Swiss African Oil Company Limited, has reportedly sent representatives to Ghana to renegotiate its interest in a terminated oil block, with outstanding liabilities included in the discussions.
Meanwhile, rental assessments on the East Keta block, formerly the GOSCO block and now operated by OPCO, have been suspended following a force majeure declaration. This followed the interception of a seismic survey vessel by the Togolese Navy, preventing completion of the seismic programme.
Nigeria has also faced challenges recovering statutory payments from upstream oil and gas companies.
The developments highlight the broader challenge of recovering petroleum revenues and enforcing statutory payment obligations among oil and gas operators in Ghana and Nigeria.
