Ghana Signs Two New Offshore Agreements for Exploration
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Ghana Signs Two New Offshore Agreements to Revive Upstream Exploration
Government has signed two Memoranda of Understanding (MoUs) with ENI Ghana, Vitol Upstream Tano Ltd, and the Ghana National Petroleum Corporation (GNPC), covering offshore blocks GH WB 3 and GH WB 8 in the Tano Basin.
The MoUs were signed by Energy and Green Transition Minister Dr John Abdulai Jinapor on behalf of the government, and they’re designed as a bridge toward finalising full Petroleum Agreements for the two acreages.
Government describes this as a major step in its broader effort to revitalise exploration and production activity, with the ultimate goal of unlocking whatever hydrocarbon potential Ghana still has waiting offshore.
Together, the two offshore blocks span roughly 2,100 square kilometres, with water depths ranging anywhere from 750 to 2,800 metres a fairly wide range that speaks to the varied conditions across the acreage.
According to the Ministry of Energy and Green Transition, what makes these blocks particularly attractive is their location. They sit close to existing producing fields and petroleum infrastructure, meaning investors moving in can tap into Ghana’s already-established upstream ecosystem rather than starting from scratch.
These new agreements aren’t happening in isolation. They build directly on a Memorandum of Intent signed back in 2025, which outlined a proposed investment of roughly US$1.5 billion into Ghana’s upstream petroleum sector.
With these latest MoUs now in place, that earlier commitment moves noticeably closer to becoming actual exploration and production work on the ground.
Government has framed this development as one piece of a broader set of upstream petroleum reforms being carried out under President John Dramani Mahama, all aimed at making Ghana’s investment environment more competitive, predictable, and appealing to investors.
The idea, according to government, is to pull in fresh capital for the sector while still making sure Ghana’s petroleum resources are developed responsibly and in a way that serves the national interest.
Looking ahead, government reaffirmed its commitment to deepening these reforms further, speeding up exploration and production activity, and making sure Ghana gets as much sustainable economic value as possible out of its hydrocarbon resources.
