At the Africa Oil Week, on behalf of the Government of Ghana, Energy Minister John Jinapor
signed a Memorandum of Intent with ENI, Vitol, and the Ghana National Petroleum Corporation (GNPC) for an integrated strategic investment plan which will see an injection of US$1.5 billion to enhance oil and gas production capacity.
This strategic investment is designed to increase oil and gas production and optimise oil which will support Ghana’s energy sector growth.
According to the Minister, “this is not just a figure on paper; it is a vote of confidence in Ghana’s upstream petroleum sector, our economy, a commitment to job creation and a catalyst for the infrastructure that will power our nation forward”.
“As indicated by President John Dramani Mahama, Ghana is building a business environment that meets investor expectations while safeguarding our national interest”, he said.
He further submitted that the Government has adopted the Gas-to-Power policy, which is a strategic initiative aimed at utilising the country’s natural gas resources to generate electricity, thereby enhancing energy security, reducing reliance on fossil fuels, and supporting sustainable development.
As a government, “we will continue to reset the upstream petroleum sector to address the dwindling oil production witnessed in the last couple of years.”
