The Minister for Energy and Green Transition, Hon. Dr. John Abdulai Jinapor, has signed two Memoranda of Understanding (MoUs) with Eni Ghana, Vitol Upstream Tano Ltd (Vitol) and the Ghana National Petroleum Corporation (GNPC) for offshore acreages GH WB 3 and GH WB 8 in the Tano Basin.
The agreements form part of government’s efforts to revitalize exploration and production activities and unlock Ghana’s hydrocarbon potential.
Dr. Jinapor said the signing marked an important step in government’s drive to attract investment and strengthen Ghana’s upstream petroleum sector.
“Today, I signed, on behalf of the Government of Ghana, two Memoranda of Understanding with Eni Ghana, Vitol Upstream Tano Ltd (Vitol), and the Ghana National Petroleum Corporation (GNPC) for the offshore acreages GH WB 3 and GH WB 8 in the Tano Basin,” he said.
According to the Minister, the agreements demonstrate government’s commitment to creating an enabling environment for renewed investment in Ghana’s oil and gas industry.
“This is a significant step forward in our efforts to revitalise exploration and production and unlock Ghana’s hydrocarbon potential,” Dr. Jinapor stated.
He explained that the agreements were also a reflection of the upstream reforms being implemented by the government under the leadership of President John Dramani Mahama.
“The agreements are also a testament to the upstream reforms being implemented by the Government under the leadership of H.E. President John Dramani Mahama to strengthen Ghana’s petroleum sector, attract investment and create a more competitive and predictable investment environment,” he said.
Dr. Jinapor emphasized that the government remained committed to responsible exploration and production while ensuring that Ghana’s petroleum resources were managed effectively for the benefit of present and future generations.
He said government’s petroleum policy was focused not only on attracting investment but also on ensuring that the exploitation of the country’s natural resources contributed meaningfully to sustainable national development.
“The government of H.E. John Dramani Mahama remains committed to responsible exploration and production, effective management of our petroleum resources and ensuring that the benefits of our natural resources translate into sustainable national development,” the Minister added.
The signing of the MoUs is expected to strengthen collaboration among government, GNPC and international petroleum companies and contribute to renewed exploration activity in Ghana’s offshore basins.
The development forms part of broader efforts by the Mahama administration to reform the upstream petroleum sector, improve investor confidence and position Ghana as a competitive and predictable destination for investment in oil and gas exploration and production.
Story: Patrick Asford Boadu
