ACCRA, April 5 (AGCNewsNet) – Ghana is stepping up efforts to attract new investment into its oil and gas sector, with the Petroleum Commission spearheading a range of reforms aimed at increasing production and revitalising mature oilfields.

The national upstream regulator is set to highlight these opportunities at the Invest in African Energies: Accra Investor Briefing on April 14, 2025, at the Kempinski Hotel in Accra. Victoria Emeafa Hardcastle, CEO of the Petroleum Commission, will address participants, offering insights into Ghana’s regulatory reforms, new exploration prospects and initiatives designed to enhance production.

The event – a precursor to the African Energy Week in Cape Town scheduled for September 29 to October 3 – is expected to lay the groundwork for major energy deals, reinforcing Ghana’s goal of unlocking its 1.1 billion barrels of crude reserves and 2.1 trillion cubic feet of natural gas.

Backed by 17 oil and gas projects expected to be developed by 2027, the West African nation is working to open new plays both onshore and offshore. The Petroleum Commission is particularly focused on drawing global and regional partners to untapped blocks, building on the success of key oilfields like Jubilee and TEN.

Tullow Oil, one of Ghana’s key operators, recently brought three new wells online at the Jubilee South East project and is scheduled to drill additional wells at Jubilee in 2025. The company is also advancing 4D seismic surveys at Jubilee and TEN. Separately, the Ghana National Petroleum Corporation (GNPC) will drill an exploration well in the underexplored Voltaian Basin next year.

Ghana is also prioritising its natural gas sector through the implementation of the Gas Master Plan, a strategic framework to guide development through 2040. The plan offers a roadmap for investing in gas infrastructure, incentivising capital inflow with transparent terms and long-term objectives.

Among the flagship projects under this strategy is the $350 million Tema Floating LNG terminal, operated by Helios Investment Partners. The facility – currently under development – will import, store, and re-gasify liquefied natural gas (LNG), supplying 1.7 million tons of gas annually to customers in the Greater Accra area.

Additionally, the $700 million Atuabo II Gas Processing Plant, an expansion of the original Atuabo facility, is slated to begin operations in 2025. With an initial capacity of 150 million standard cubic feet per day (mmscf/d), the plant will produce propane, butane and pentane condensates, with potential to scale up output to 300 mmscf/d in future phases.

“Ghana’s approach to developing its oil and gas industry must be commended,” said NJ Ayuk, Executive Chairman of the African Energy Chamber. “The country is not only instituting reforms in tax and policy, but working closely with international operators to strengthen the attractiveness and competitiveness of their investments.”

As Ghana works to diversify its energy mix and modernise its upstream landscape, industry watchers say the country could emerge as a regional model for sustainable oil and gas development.

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