Ghana took a bold step toward securing its energy future this week, as the government signed a Memorandum of Intent with ENI, Vitol, and the Ghana National Petroleum Corporation (GNPC) for an ambitious $1.5 billion integrated strategic investment plan.
The announcement, made during Africa Oil Week, signaled renewed confidence in Ghana’s upstream petroleum sector and the nation’s broader economic prospects.
The Minister for Energy and Green Transition, John Jinapor, highlighted that the new investment would do more than just increase oil and gas production. “This is not just a figure on paper; it is a commitment to job creation, infrastructure development, and the long-term stability of our energy sector,” he said, underscoring the far-reaching impact of the deal.
President John Dramani Mahama has long championed policies that foster an investment-friendly business climate while ensuring Ghana’s interests are protected. In line with this vision, the government recently introduced the Gas-to-Power Policy, a strategic initiative to harness Ghana’s abundant natural gas resources for electricity generation. This policy aims to boost energy security, reduce reliance on imported fossil fuels, and pave the way for sustainable development.
Minister Jinapor further stressed the government’s determination to “reset” the upstream petroleum sector, addressing the decline in oil production recorded in recent years. The $1.5 billion agreement is expected to drive infrastructure growth and serve as a catalyst for Ghana’s energy transition and industrialisation agenda.
As the ink dries on this landmark deal, optimism runs high that Ghana’s energy sector is poised for a new era of growth and innovation.
Source: Apexnewsgh.com
