A recent meeting in London between Ghana’s Ministry of Energy and Green Transition and the African Energy Chamber highlighted the country’s commitment to attracting new investment across its energy sector and positioning itself as West Africa’s premier energy hub.
Ghana is positioning itself as a major hub for energy investment, with the Ministry of Energy and Green Transition pledging to attract key players from the oil, gas and renewable energy sectors.
On the sidelines of International Energy Week in London, Ghana’s Minister of Energy and Green Transition John Abdulai Jinapor and the African Energy Chamber (AEC) – the voice of Africa’s energy sector – emphasised Ghana’s readiness to welcome investment and create a favorable business environment for foreign and regional firms.
During the meeting, the AEC also pledged to conduct a working visit to Ghana, focusing on identifying investment and collaboration opportunities.
Together, the AEC and the Ministry of Energy and Green Transition aim to drive growth and development in the country’s energy sector, promoting fiscal frameworks that reinforce Ghana’s position as an attractive destination for oil, gas and energy investors.
As part of these efforts, a dedicated “Invest in Ghana” Forum will be held at African Energy Week: Invest in African Energies 2025 in Cape Town, where the AEC will coordinate with the Ministry of Energy and Green Transition, Ghana National Petroleum Corporation (GNPC), the National Petroleum Authority, the Petroleum Commission and private sector players to position Ghana as the go-to destination for oil and gas investments from both G20 and non-G20 countries.
With oil reserves of 1.1 billion barrels and gas reserves of 2.1 trillion cubic feet (World Bank), Ghana has committed to increasing production through enhanced investment in exploration and field development programs.
The country has more than 17 oil and gas projects scheduled for development by 2027, and recent and upcoming regulatory reforms are expected to further bolster investment and foreign participation in the sector.
Notably, the country’s Gas Master Plan – a market growth strategy through 2040 – incentivizes capital and technology deployment across the gas value chain, while upcoming fiscal reforms are expected to stimulate spending in the oil market.
These reforms include planned amendments to laws requiring companies to allocate at least 15% of each project to the state as free and carried interest, as well as more flexible oil royalty regimes.
In collaboration, the AEC and the Ministry of Energy and Green Transition seek to ensure Ghana continues to attract the right kind of investment, with additional reforms encouraging operators to expand their portfolios and new players to seize opportunities in the country.
Several major operators are already active in Ghana’s energy market. Energy giant Eni, for example, has a presence across exploration, refining and chemicals sectors.
The company is involved in the Offshore Cape Three Points (OCTP) exploration project and the offshore CTP 4 block. OCTP serves as an integrated project for developing oil and gas fields, featuring the Agyekum Kufuor FPSO.
Independent energy company Tullow Oil is also a key player in Ghana, with production from the Jubilee and TEN fields amounting to 100,000 bpd and 10,100 bpd, respectively.
In partnership with Kosmos Energy, Tullow Oil began production at the Jubilee South East project in 2023, with three new wells brought onstream in Q1 2024.
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