Appointed by President John Mahama in consultation with the Council of State, the board is expected to deliver on several key priorities: operational revitalisation, accelerated green transition, human capital development, and strengthened public engagement.
“And so what is going to happen is that Oman is not going to allow for a unilateral decision to just close that end completely again, like I pointed out, the Chinese had a lot of interest in terms of movements of goods and other services, or, eh, movements of goods more or less to the Chinese and other South Asian countries. And so they also have an interest in ensuring that the passage is not closed,” he said during a discussion on TV3 on Monday, June 23.
Indonesia, with a population exceeding 280 million and comprising approximately 17,024 islands, is renowned for its robust oil and gas industry and is the fourth most populous country globally. The nation’s expertise and resources present valuable opportunities for collaboration with Ghana in the energy sector.
According to the statement, the agreement brings together Tullow Oil plc, Kosmos Energy, PetroSA, the Ghana National Petroleum Corporation (GNPC), and Explorco, and will see the West Cape Three Points (WCTP) and Deep Water Tano (DWT) licences—home to the Jubilee and 10 fields—extended by 15 years.
“This initiative is a brilliant one, and PHDC cannot do it alone. They need critical partners and one of the most crucial partners in any democratic setup is Parliament,” Bagbin stated, adding: “All government agencies must collaborate with Parliament to ensure the success of this project. Failure to do so will be to our collective detriment.” The Speaker reaffirmed his personal endorsement of the project designed to establish Ghana as West Africa’s premier downstream oil and gas center, featuring integrated refining, petrochemicals, storage, and export infrastructure to drive industrialization and job creation.
The Government of Ghana, together with Tullow Oil plc, Kosmos Energy PetroSA, Ghana National Petroleum Corporation (GNPC) and Explorco have jointly announced that they have entered into a Memorandum of Understanding (MoU) to extend the West Cape Three Points and Deep Water Tano licences to 2040, which cover the Jubilee and TEN fields in Ghana.
First, Jubilee and TEN, where the partners are Tullow, Kosmos, Petro SA, Explorco and GNPC. They have recently announced that they are committed to invest $2billion, to drill up to 20 wells between now and 2040. They are starting the drilling campaign this month with two wells using the Noble Venturer drillship and between four to six wells in 2026.
First, the severity of the gas shortfall. If gas supplies are heavily constrained, the crude will be consumed faster and the projected 16-day window could shrink to 12 or 14 days. If the shortage is milder, the fuel could last slightly longer.
“This is an exciting moment for us. The restart of drilling reflects another milestone in our journey in Ghana and shows our confidence in the country’s resource base,” Jean-Médard Madama, Managing Director of Tullow Ghana said in a statement. “Even as the field matures, we are confident in its capacity to deliver value—for our shareholders, partners, and the people of Ghana.”
Ghana will require approximately $562 billion to successfully implement its national energy transition framework by 2070, according to the Ministry of Energy.