Ghana has entered into a US$1.5 billion agreement with ENI and Vitol to enhance its Oil and Gas production
By Francis Ahorlu
Copyright vision1fm
The government of Ghana has entered into a memorandum of intent with ENI, Vitol, and the Ghana National Petroleum Corporation (GNPC) to implement a substantial integrated strategic investment plan.
The investment, amounting to US$1.5 billion, is intended to bolster the country’s oil and gas production capabilities. The signing ceremony took place during the 2025 Africa Oil Week, which is currently being hosted in Accra.
This strategic investment aims to enhance gas production and optimize oil output, thereby supporting the growth of Ghana’s energy sector.
President John Mahama expressed his approval of the agreement, underscoring the government’s dedication to fostering a conducive business environment.
“Ghana is cultivating a business climate that accommodates investors while protecting our national interests. The policy measures implemented since I took office are producing positive outcomes,” President Mahama remarked, highlighting the beneficial effects of recent policy reforms on attracting investment.
The Minister of Energy and Green Transition, Hon. John Jinapor, stated, “This is not merely a statistic; it represents a vote of confidence in Ghana’s upstream petroleum sector, our economy, a pledge to create jobs, and a catalyst for the infrastructure that will propel our nation forward.”
