Ghana’s oil and gas sector is showing clear signs of resurgence, underscored by Eni’s recent declaration of commerciality for the Eban-Akoma complex in the Cape Three Points Block 4.
This was captured in the latest Petroleum Investment Report.
These are funds that Ghana has invested from crude oil export revenue, taxes paid by firms operating in Ghana’s oil area, and rental charges to the state since 2010.
Out of that, the country secured $218.62 million from crude oil liftings.
The crude oil lifting took place between January 2025 and March 2025.
The country also got $148.75 million from corporate tax during the first half of 2023.
The Tema Oil Refinery (TOR) and the Bulk Oil Storage and Transportation Company Limited (BOST) have signed a Memorandum of Understanding (MoU) to enhance technical and commercial collaboration.
Ghana’s oil and gas sector is showing clear signs of resurgence, underscored by Eni’s recent declaration of commerciality for the Eban-Akoma complex in the Cape Three Points Block 4. Estimated to hold between 500 and 700 million barrels of oil equivalent, the find marks the country’s largest offshore discovery in years and lies adjacent to Eni’s existing Sankofa production hub, allowing for rapid and cost-efficient development.
Incorporated in 1993, the Bulk Oil Storage and Transportation Company Limited (BOST) serves as Ghana’s primary institution for oil storage and distribution. As a key pillar in the nation’s energy security and regional fuel logistics, BOST’s performance remains vital to the country’s energy sector development.
Addressing the staff, the Minister encouraged continued professionalism and dedication, revealing that plans are in motion for the establishment of a new gas processing plant – a move he described as key to securing a sustainable and prosperous energy future for Ghana.
Eni Ghana, along with its Offshore Cape Three Points (OCTP) partners Vitol Upstream Ghana Ltd and the Ghana National Petroleum Corporation (GNPC), has completed a major upgrade of its gas processing infrastructure, increasing capacity from 246 to 270 million standard cubic feet per day (MMSCFD).
Italian energy group Eni will temporarily suspend operations at a gas plant in Ghana on Sunday to implement a supply increase, likely resulting in power cuts, the West African country said on Wednesday.
The declaration was submitted by a joint venture comprising Eni Ghana Exploration & Production Ltd, Vitol Upstream Tano Ltd, Woodfields Upstream Ghana Ltd, and GNPC Exploration & Production Company Ltd (Explorco), in collaboration with the Ghana National Petroleum Corporation (GNPC).