Minister of Energy and Green Transition, Hon. John Abdulai Jinapor, has announced that major global oil investors are once again showing strong interest in the country’s upstream petroleum sector, signaling a rebound after years of decline. He made the revelation on Tuesday in Takoradi during the opening of the 2025 Local Content Conference and Exhibition.
Hon. Jinapor explained that Ghana’s oil and gas industry, which previously suffered a 32% drop in production due to regulatory lapses and policy inconsistencies, is now on a clear path to recovery. He credited the turnaround to the government’s “reset agenda,” aimed at restoring investor confidence and streamlining the regulatory environment.
The minister cited several key achievements under the Mahama-led administration, including the resolution of the long-standing dispute between Springfield and ENI. “In the oil sector, consistency and clear signalling are critical. We have increased gas production to about 50 MMSCFD, signed a $1.5 billion framework agreement with ENI, and secured a $2 billion deal with the Jubilee partners,” Mr. Jinapor said.
He stressed that these strategic actions have sent positive signals to international investors, with several “big oil” companies now expressing renewed interest in Ghana’s upstream market. He emphasized that the focus remains on maintaining policy stability and fostering a conducive business environment to ensure sustainable growth.
Adding to the discussions, Acting CEO of the Ghana National Petroleum Corporation (GNPC), Mr. Kwame Ntow Amoah, reaffirmed the corporation’s commitment to innovation and capacity-building in the petroleum sector. He highlighted progress in the Voltaian Basin Project and the establishment of GNPC’s Research & Technology Centre as key steps toward self-reliance.
Mr. Amoah urged stronger collaboration between government, investors, and industry players to drive growth through technology and local expertise. “Local content must move beyond percentages—it should become a driver of competitiveness, sustainability, and long-term national benefit,” he concluded.