The Government of Ghana has signed a landmark memorandum of intent with Italian energy giant ENI, Vitol, and the Ghana National Petroleum Corporation (GNPC) to inject US$1.5 billion into the country’s oil and gas industry. The announcement was made during the 2025 Africa Oil Week, which is currently being hosted in Accra.
The strategic investment plan is designed to enhance Ghana’s gas production while optimizing oil output. Officials say the move will strengthen the nation’s energy security and position Ghana as a growing hub for petroleum development in the region.
President John Mahama, who witnessed the signing, described the deal as a reflection of his administration’s commitment to fostering a favorable business environment. He noted that recent policy reforms have played a key role in making Ghana an attractive destination for energy investors.
Minister of Energy and Green Transition Hon. John Jinapor also welcomed the agreement, emphasizing that the US$1.5 billion commitment is more than a financial figure. According to him, the deal signals international confidence in Ghana’s upstream petroleum sector and stands as a catalyst for job creation and infrastructure development.
Alongside this announcement, the Minister of Energy and Green Transition revealed that Ghana has already secured a broader US$3.5 billion investment package for the upstream sector. This, he said, will further accelerate growth, expand exploration activities, and provide long-term benefits for the Ghanaian economy.
Ultimately, the government views the partnership with ENI, Vitol, and GNPC as a crucial step toward unlocking Ghana’s full oil and gas potential while safeguarding national interests.