Cape Town, South Africa – September 17, 2025
Ghana’s energy sector is set for a major boost following the signing of a Memorandum of Intent (MoI) worth US$1.5 billion between the Government of Ghana, Italian energy giant ENI, Dutch multinational Vitol, and the Ghana National Petroleum Corporation (GNPC).
The agreement, announced during the Africa Oil Week by the Minister for Energy and Green Transition, John Abdulai Jinapor, outlines an integrated strategic investment plan aimed at enhancing the country’s oil and gas production capacity and optimizing resources to strengthen the nation’s energy security.
This strategic investment is not just a figure on paper; it is a vote of confidence in Ghana’s upstream petroleum sector and our economy, Mr. Jinapor said.
It represents a commitment to job creation and a catalyst for infrastructure that will power our nation forward.
The minister emphasized that the government’s vision, as articulated by President John Dramani Mahama, is to create a business environment that attracts investors while protecting Ghana’s national interest.
As part of this vision, the government has adopted the Gas-to-Power Policy, a key initiative that seeks to leverage Ghana’s natural gas resources for electricity generation.
This policy is expected to reduce reliance on imported fossil fuels, enhance energy security, and promote sustainable development.
Reversing Declining Oil Production
Mr. Jinapor also highlighted the government’s commitment to reversing the recent decline in oil production levels witnessed in the past few years.
As a government, we will continue to reset the upstream petroleum sector to address the dwindling oil production and position Ghana as a competitive player in the global energy market, he stated.
The deal signals a renewed partnership between Ghana and international energy players, positioning the country to not only meet its domestic energy needs but also to expand its role as a key energy hub in West Africa.
This landmark investment is expected to generate new jobs, strengthen Ghana’s energy infrastructure, and support economic growth, marking a significant step towards a more secure and sustainable energy future.
Report By: Robicon Mornahson
