Ghana has secured US$3.5 billion in investment commitments to expand upstream petroleum operations and drill new wells, Minister for Energy and Green Transition Dr. John Abdulai Jinapor has disclosed.
The commitments, he said, reflect growing investor confidence in Ghana’s petroleum industry following sustained investor engagement and ongoing legal and fiscal reforms.
In a Facebook post following his participation in the opening ceremony of African Energy Week, Dr. Jinapor said the government was working to create a more competitive and predictable business environment while safeguarding Ghana’s national interests.
He made the remarks during a fireside chat with Kosmos Energy Chief Executive Officer Andrew Inglis, moderated by African Energy Chamber Executive Chairman NJ Ayuk.
Dr. Jinapor said efforts to revitalise the upstream petroleum sector were yielding encouraging results, including positive developments in crude oil production.
He said government’s priority was to sustain the momentum by attracting additional investment, strengthening local participation and increasing domestic value addition.
The minister also highlighted plans to refine more of Ghana’s crude oil locally to support industrial activity, create jobs and strengthen national energy security.
He expressed appreciation to President John Dramani Mahama for his strategic direction and support for the energy sector, describing these as important to investment, economic growth and national development.
Dr. Jinapor reaffirmed the government’s commitment to attracting investment, protecting Ghanaian interests and converting the country’s natural resources into long-term economic value.
African Energy Week brings together government officials, energy companies, investors and other industry stakeholders to discuss investment opportunities and developments across Africa’s energy sector.