Ghana’s upstream petroleum sector is set to attract US$3.5 billion in fresh investment following the resolution of outstanding disputes between the government and key oil and gas industry players.
The Petroleum Commission says the settlement 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 government’s efforts to resolve the legal and commercial challenges have paved the way for renewed investment in upstream activities.
“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.
Madam Hardcastle made the remarks at the launch of the Petroleum Commission’s 2025 Annual Investment Report, where she highlighted renewed commitments from major industry players following the resolution of the disputes.
According to her, the improved investment climate is already translating into significant financial commitments from oil and gas companies.
She disclosed that partners in the Jubilee and TEN fields have committed US$2 billion to further development activities.
The investment is expected to support increased oil production and gas output, while also helping to reduce the Jubilee gas price by about 18%.
The price reduction, she said, could generate approximately US$300 million in savings for Ghana.
Meanwhile, partners in the Offshore Cape Three Points (OCTP) project — Eni, Vitol and the Ghana National Petroleum Corporation (GNPC) — have committed another US$1.5 billion.
The investment will support the expansion of gas exports and the development of the Eban-Akoma discoveries, further strengthening Ghana’s position in the regional oil and gas industry.
Madam Hardcastle stressed that sustaining the renewed investor interest would depend on maintaining a stable fiscal regime, transparent regulatory processes and efficient licensing procedures.
She said these measures would be critical to providing the certainty investors require to commit long-term capital to Ghana’s upstream petroleum sector.
The US$3.5 billion in commitments comes as Ghana seeks to revitalise upstream activity, increase domestic oil and gas production and maximise the economic benefits of its petroleum resources.
