The Technical Advisor and Second Gas Processing Plant Focal Point at the Ministry of Energy and Green Transition, Dr Yussif Sulemana, has underscored the critical role of Ghana’s oil and gas resources in driving economic growth and national transformation, describing the country as a safe and attractive destination for energy investment.

Dr Sulemana made these remarks while representing the Minister of Energy and Green Transition, Dr John Abdulai Jinapor, as the guest speaker at the 12th Oil and Gas Awards.

According to him, energy remains the lifeblood of Ghana’s economy, stressing that despite the global push for renewable energy, oil and gas will continue to play a central role in supporting economic survival and industrial growth.

He explained that while Ghana is fully committed to the green transition, the Ministry of Energy and Green Transition is pursuing a balanced approach that allows oil and gas development to run alongside renewable energy investments.

“We are working the two in parallel. We are careful not to allow one to offset the other. Oil and gas will continue to drive our industrialisation agenda, and that is what we are championing,” he said.

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Touching on recent power supply challenges, he noted that the erratic electricity situation experienced earlier in the year was resolved through deliberate and sustained efforts, rather than chance.

He said the government has intensified efforts to revitalise both the upstream and downstream petroleum sectors to ensure they effectively support the power sector.

“For years, we treated the power and petroleum sectors as separate entities. Today, we have adopted a clear strategy centred on ‘Gas-to-Power’. Previously, we relied heavily on liquid fuels to generate electricity, which was not only very expensive but also environmentally unfriendly,” he explained.

He noted that renewed investor confidence in Ghana’s energy sector, describing the power and petroleum industries as vibrant and investment-ready.

He recalled that before 2024, international oil companies such as ENI were close to exiting the country due to unfavourable operating conditions.

However, he said recent policy reforms and an improved investment climate have encouraged major players to recommit to Ghana.

“ENI is currently planning investments of about US$1.5 billion, while our Jubilee partners are also expected to invest around US$2 billion, even with oil prices hovering in the low US$60 range,” he disclosed.

Dr Sulemana further stated that Ghana is actively reviewing its upstream petroleum framework, local content policies, and downstream infrastructure development, a process he said is already delivering positive results for the sector.

SP/AE

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