Ghana’s upstream petroleum industry is poised for renewed investment after the government reached agreements with oil and gas partners to resolve outstanding disputes, paving the way for an estimated US$3.5 billion in fresh commitments.
The Petroleum Commission says the resolution of the disputes has improved investor confidence and created a more predictable environment for companies operating in the sector.
Chief Executive Officer of the Petroleum Commission, Emeafa Hardcastle, said the development was already translating into concrete investment decisions by major industry players.
Speaking at the launch of the 2025 Annual Investment Report, Madam Hardcastle said the government had fulfilled its commitment to address outstanding disputes with upstream oil and gas companies.
“Pursuant to the promise His Excellency made to Ghanaians, all disputes between upstream oil and gas players and the government of Ghana have been promptly resolved, paving the way for more investment,” she said.
She disclosed that partners in the Jubilee and TEN fields had committed US$2 billion to further development activities.
According to her, the investment is expected to support continued oil production, increase gas output and reduce the Jubilee gas price by about 18%, resulting in estimated savings of approximately US$300 million for Ghana.
A further US$1.5 billion commitment has been made by partners in the Offshore Cape Three Points (OCTP) project, comprising Eni, Vitol and the Ghana National Petroleum Corporation (GNPC).
Madam Hardcastle said the funds would support the expansion of gas exports and the development of the Eban-Akoma discoveries.
The combined US$3.5 billion investment is expected to strengthen production capacity, improve gas availability and create additional economic opportunities within Ghana’s petroleum value chain.
The Petroleum Commission, however, says sustaining the renewed investor interest will require continued policy stability and a predictable regulatory environment.
Madam Hardcastle stressed the importance of maintaining a stable fiscal regime, transparent regulatory frameworks and efficient licensing processes to protect investor confidence and attract further capital into the upstream industry.
The latest investment commitments come at a time when Ghana is seeking to maximise the contribution of the petroleum sector to economic growth while strengthening domestic participation and energy security.
The resolution of the disputes is therefore being viewed as an important step towards unlocking additional investment and ensuring that Ghana’s remaining petroleum resources continue to attract long-term capital.
