The country’s upstream oil and gas sector has received a major boost with some of the industry’s global big players expressing interest to invest.
Engagements with the international players, usually referred to in the industry, as super majors, are progressing steadily.
The Chief Executive Officer of the Petroleum Commission, Victoria Emeafa Hardcastle, revealed, for instance, that the government’s negotiation team was at an advanced stage of finalising a new petroleum agreement with Shell for the South Deep-Water Block of the country.
She made this known at the opening of the 2025 annual Local Content Conference and Exhibition in Takoradi last Tuesday.
The three-day conference and exhibition is on the theme, “Revitalising Ghana’s Petroleum Exploration and Production Sector: Driving Innovation and Redefining Local Content for a Competitive Energy Economy.
63 speakers are expected to address the conference, 80 panellists would engage in discussions with more than 1,000 participants.
Ms Hardcastle said aside from the supermajors, two operators of the existing producing fields had also signed agreements to make further investments in the country’s geological basins.
The jubilee partners, operated by Tullow and Kosmos, have committed $2billion in additional investments in new wells and subsea facilities in Jubilee and TEN fields, and Eni has also just signed a memorandum of intent with the government to invest $1.5billion in additional investments in OCTP and block 4 contract areas.