Ghana Secures $1.5 Billion Oil and Gas Investment to Drive Energy Growth

The Government of Ghana has signed a Memorandum of Intent with ENI, Vitol, and the Ghana National Petroleum Corporation (GNPC) for a $1.5 billion integrated investment plan designed to strengthen the country’s oil and gas sector.

The agreement, unveiled during the Africa Oil Week, signals renewed investor confidence in Ghana’s upstream petroleum industry and its broader economic prospects.

Minister for Energy and Green Transition, John Jinapor, noted that the investment goes beyond expanding production capacity. He highlighted its potential to create jobs, improve infrastructure, and stabilise the nation’s energy sector.

“This is not just a figure on paper; it is a commitment to job creation, infrastructure development, and the long-term stability of our energy sector,” the Minister affirmed.

President John Dramani Mahama has consistently reiterated his administration’s focus on building an investment-friendly climate while safeguarding Ghana’s national interest. Central to this vision is the government’s Gas-to-Power Policy, an initiative aimed at converting natural gas resources into electricity to strengthen energy security, cut reliance on imported fuels, and advance sustainable growth.

The Minister also stressed the government’s determination to “reset” the upstream petroleum sector to address recent declines in production.

With this $1.5 billion partnership, Ghana expects to accelerate infrastructure development, drive industrialisation, and push forward its energy transition agenda.