Ghana has entered into two memoranda of understanding (MoUs) with Eni Ghana, Vitol Upstream Tano Ltd and the Ghana National Petroleum Corporation (GNPC) to advance activities on offshore blocks GH WB 3 and GH WB 8 in the Tano Basin.
The agreements, signed on Thursday, form part of government’s efforts to develop Ghana’s remaining hydrocarbon prospects and bring additional investment into the upstream petroleum industry, according to the Energy and Green Transition Ministry.
Energy and Green Transition Minister, Hon. Dr. John Abdulai Jinapor executed the agreements on behalf of the government, while representatives of Eni Ghana, Vitol Upstream Tano Ltd and GNPC signed for their respective organisations.
The two acreages span an estimated 2,100 square kilometres and are located in water depths ranging from 750 metres to 2,800 metres.
The ministry said the MoUs follow a memorandum of intent concluded in 2025, which outlined a proposed investment of $1.5 billion in the two offshore blocks.
Government said the latest agreements are aligned with reforms being undertaken by President John Dramani Mahama to make Ghana’s petroleum industry more competitive, predictable and attractive to investors.
The reforms are also intended to promote responsible exploitation of the country’s natural resources while creating conditions that encourage further investment in the upstream sector.
The strategic location of GH WB 3 and GH WB 8 close to producing fields and existing petroleum infrastructure is expected to provide investors with the opportunity to draw on Ghana’s established upstream ecosystem as exploration activities move forward.
The government said it would maintain its focus on reforms designed to bring in additional capital, accelerate exploration and production, and strengthen the overall investment environment in the petroleum sector.
According to the ministry, the broader objective is to ensure that Ghana captures maximum and sustainable value from its hydrocarbon resources while supporting the continued development of the upstream industry.