Ghana is strengthening its position as one of West Africa’s leading oil and gas producers through a major US$3.5 billion upstream investment programme aimed at boosting offshore exploration, increasing production and extending the life of its mature oilfields.
Under the leadership of Minister for Energy and Green Transition, John Abdulai Jinapor, the government has prioritised reforms to revitalise upstream activity, attract new investment and unlock additional value from the country’s offshore petroleum resources.
The investment programme, secured in early 2026, brings together partners operating the Jubilee, TEN (Tweneboa-Enyenra-Ntomme) and Offshore Cape Three Points assets. The initiative is expected to support new drilling campaigns, improve production efficiency and expand Ghana’s recoverable oil and gas reserves.
Strengthening Upstream Investment
The latest investment forms part of Ghana’s broader strategy to stimulate exploration and reverse declining production from mature offshore fields.
By creating a more attractive investment environment and introducing regulatory reforms, the government aims to encourage greater participation from international energy companies while maintaining Ghana’s competitiveness within Africa’s upstream sector.
Industry observers believe the renewed investment will strengthen energy security, create employment opportunities and generate additional revenue to support national economic development.
Supporting the Energy Transition
Alongside expanding its upstream industry, Ghana continues to invest in cleaner energy technologies as part of its long-term energy transition strategy.
The government plans to procure 200 MW of Battery Energy Storage Systems (BESS) to improve grid stability, enhance renewable energy integration and reduce dependence on thermal power generation during peak demand periods.
These investments complement programmes focused on expanding electricity access to rural and off-grid communities while increasing the contribution of renewable energy to the national power mix.
Nuclear Energy Under Consideration
Ghana is also laying the foundation for future nuclear power generation as part of efforts to diversify its energy portfolio.
Following a safety review completed by the International Atomic Energy Agency (IAEA) in 2025, the country has identified potential sites for its first nuclear power station. The project represents a significant milestone in Ghana’s long-term strategy to develop reliable baseload electricity generation capable of supporting future industrial growth.
By combining continued investment in offshore oil and gas with renewable energy expansion and future nuclear development, Ghana is pursuing a balanced energy strategy designed to strengthen energy security, attract investment and support sustainable economic growth.
