Accra:Energy and Green Transition Minister Dr. John Jinapor announced that the government has secured $3.5 billion in investment commitments to expand operations and drill new wells, aiming to revitalize Ghana's upstream petroleum sector and restore investor confidence.
According to Ghana Web, Dr. Jinapor spoke during a fireside chat at the opening ceremony of African Energy Week. He was joined by Kosmos Energy CEO Andrew Inglis and African Energy Chamber Executive Chairman NJ Ayuk to discuss efforts to attract investment into Ghana's oil and gas industry.
Dr. Jinapor highlighted ongoing efforts to engage with investors, alongside implementing legal and fiscal reforms to create a competitive and business-friendly environment. These reforms aim to attract fresh capital while safeguarding the country's national interests, with the approach already showing promising results.
The government's focus is on sustaining investment momentum, increasing local participation, and enhancing domestic value addition within the petroleum sector. Expanding local refining capacity to process Ghana's crude oil is a key strategy, expected to bolster industrial activity, create jobs, and improve energy security.
Dr. Jinapor emphasized the importance of ensuring that petroleum resources yield lasting economic benefits for the Ghanaian people. He also praised President John Dramani Mahama for his strategic direction and support to the energy sector, underscoring the necessity of sustained attention for investment, economic growth, and national development.
The government remains committed to fostering conditions that encourage private investment, protect national interests, and translate petroleum resources into shared prosperity for the nation.