Ghana’s upstream petroleum industry is poised for renewed investment after the government and key oil and gas companies resolved outstanding disputes, a development the Petroleum Commission says has boosted investor confidence and opened the door for fresh capital.
Chief Executive Officer of the Petroleum Commission, Emeafa Hardcastle, said the resolution of the disputes had created a more predictable operating environment and improved the prospects for increased investment in the sector.
“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.
Speaking at the launch of the 2025 Annual Investment Report, Madam Hardcastle said the renewed confidence was already translating into significant financial commitments from industry players.
She disclosed that partners in the Jubilee and TEN fields had committed US$2 billion to further development activities aimed at sustaining oil production and increasing gas output.
According to her, the investment is also expected to reduce the Jubilee gas price by about 18 per cent, resulting in estimated savings of approximately US$300 million for Ghana.
Madam Hardcastle further revealed that partners in the Offshore Cape Three Points project, comprising Eni, Vitol and the Ghana National Petroleum Corporation (GNPC), had committed an additional US$1.5 billion.
The funds, she said, would support the expansion of gas exports as well as the development of the Eban-Akoma discoveries.
She stressed that sustaining the momentum would require Ghana to maintain a stable fiscal regime, transparent regulatory processes and efficient licensing systems.
Madam Hardcastle said these measures would be essential to preserving investor confidence and ensuring that the upstream petroleum sector continues to attract the capital needed to support production, gas development and broader economic growth.
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