Ghana Secures US$1.5 Billion Investment to Boost Oil and Gas

At Africa Oil Week, the Minister for Energy and Green Transition signed a Memorandum of Intent on behalf of the government with ENI, Vitol, and the Ghana National Petroleum Corporation (GNPC) for a US$1.5 billion strategic investment to enhance oil and gas production.

The investment aims to increase output, optimise resources, create jobs, and drive infrastructure development. President John Dramani Mahama emphasised that Ghana is fostering a business environment that balances investor expectations with national interests.

As part of this effort, the government is advancing the Gas-to-Power policy to use natural gas for electricity generation, strengthen energy security, and support sustainable development. Officials also stressed plans to reset the upstream petroleum sector to address recent declines in oil production.