Ghana is gearing up to reverse production declines in its mature oilfields by inviting fresh upstream investments. The nation’s Petroleum Commission is implementing a series of regulatory reforms that aim to create a more attractive and competitive environment for both established and emerging oil and gas companies. These reforms are expected to spur exploration initiatives on both onshore and offshore fronts.
At the upcoming Invest in African Energies: Accra Investor Briefing, Petroleum Commission CEO Victoria Emeafa Hardcastle will share the nation’s exploration prospects and offer insights into a host of policy initiatives—including the transformative Gas Master Plan. This strategy is designed to attract capital and technology investments by clearly defining future objectives for the gas value chain. Already, major projects are in the pipeline: the Tema FLNG facility in Accra, with a capacity of 1.7 million tons per year, and an expansive Atuabo II Gas Processing plant, which is on track for production in 2025 and may double its output in future phases.
In the oil segment, Ghana is actively promoting under-explored blocks adjacent to well-known fields such as Jubilee and TEN. Global operators like Tullow Oil have already commenced new drilling and seismic survey activities at Jubilee, while the Ghana National Petroleum Corporation is set to drill an exploration well in the Voltaian Basin next year. NJ Ayuk, Executive Chairman of the African Energy Chamber, commended Ghana’s balanced approach in reforming both tax and policy frameworks, enhancing the nation’s overall attractiveness for investment.
Source: World Oil
