Baku:Ghana has secured investment commitments amounting to $3.5 billion aimed at expanding operations and drilling new wells in the upstream petroleum sector, as announced by the Minister for Energy and Green Transition, Dr. John Abdulai Jinapor.
According to Ghana Web, these commitments signal growing investor confidence in Ghana's petroleum industry, following sustained engagement with investors and ongoing legal and fiscal reforms.
In a Facebook post after participating in the opening ceremony of African Energy Week, Dr. Jinapor highlighted the government's efforts to create a competitive, predictable, and business-friendly environment while safeguarding the country's national interests. During a fireside chat with Kosmos Energy CEO Andrew Inglis, moderated by African Energy Chamber Executive Chairman NJ Ayuk, he noted that the government's revitalization efforts in the upstream petroleum sector are showing positive results, particularly in crude oil production.
The minister emphasized the priority of maintaining momentum by attracting further investment, enhancing local participation, and increasing domestic value addition. He stated the government's aim to refine more crude oil locally to support industry, create jobs, and bolster the country's energy security.
Dr. Jinapor expressed gratitude to President John Dramani Mahama for his support in driving investment, growth, and national development in the energy sector. He reaffirmed the government's commitment to attracting investment, protecting Ghanaian interests, and transforming the country's natural resources into lasting economic value and shared prosperity.
African Energy Week serves as a platform for government officials, energy companies, investors, and industry stakeholders to discuss investment opportunities and developments across Africa's energy sector.